A consortium of investors that includes the Canada Pension Plan Investment Board and Thomson Reuters Corp. (TRI) have raised £2 billion (Cdn$3.40 billion) by selling shares in the London Stock Exchange Group (LSEG).
The consortium, which also includes Singapore’s sovereign wealth fund, sold 25.5 million shares at £79.50 apiece, according to a news release about the deal.
The consortium is made up of the former owners of Refinitiv, a financial data services firm that the London Stock Exchange Group acquired for $27 billion U.S. in 2021.
The group has spent much of this year selling large chunks of shares in the exchange operator. In March, they announced the sale of about £2 billion of the shares, and in May they sold a further £2.7 billion of LSEG stock.
The consortium’s economic interest in the London Stock Exchange Group has now fallen to 12% from 19% initially.
The share sales come as the London exchange struggles with an exodus of companies and a sharp drop in stock listings following the United Kingdom’s exit from the European Union (EU).
The British government has responded by revising listing rules to make London a more attractive place for companies to seek equity funding.
Toronto-based news organization Thomson Reuters’ stock has increased 14% over the last 12 months and currently trades at $173.10 per share.
