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Umicore Shares Plunge 11% After Major Investor GBL Halves Stake
Umicore Shares Plunge 11% After Major Investor GBL Halves Stake
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BTCCSquare news:
Umicore SA (UMI.BR) suffered its steepest single-day decline since March 2020, with shares tumbling nearly 11% after Groep Brussel Lambert offloaded half its position in the Belgian metals recycler. GBL disposed of 19.6 million shares—representing 8% of Umicore's equity—through an accelerated bookbuild at €15.35 per share, a 8.8% discount to Monday's closing price.
The transaction, executed via Goldman Sachs, raised approximately €300 million for GBL while reducing its ownership from 16% to 8%. A 90-day lock-up agreement now governs the remaining stake. This divestment aligns with GBL's strategic pivot toward private assets, despite Umicore's 62% year-to-date rally outperforming the BEL 20 index.
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