Reported about 20 hours ago
Reinet Investments has sold its 2% stake in British American Tobacco for £1.22 billion, marking its exit from the company. The sale involved about 43.3 million shares priced at £28.20 each, leading to a short-term drop in BAT shares. Despite this divestment, analysts believe it won't impact BAT's plans for a £900 million share buyback in 2025, as demand for the shares exceeded the offering.
Source: YAHOO