( Newswires) - Reinet Investments' (RNI.JO, REINA.AS) indirect subsidiary, Reinet Jersey Holdings, intends to sell 43,310,286 shares in British American Tobacco (BTI.JO, BATS.L) in a secondary block trade agreement with JP Morgan Securities. The transaction represents 1.96% of the tobacco giant's common stock as of January 10. The final price and number of shares placed will be determined through an accelerated bookbuilding process, which will commence immediately, according to a press release on Monday.
Reinet Jersey raised 148.5 million pounds sterling after selling 5 million of the London shares in November and December 2024.
