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Compass investor to sell 8 million shares of catering group

Jan 28 (Reuters) - An institutional investor in Compass Group is looking to sell about eight million shares of the British catering company in a price range of 12.9 pounds per share to market, a bookrunner for the sale said on Thursday.

While the books are covered, the final price of the offering is yet to be disclosed.

At an estimated price of 12.9 pounds per share, the sale has an implied value of about 100 million pounds ($137.35 million) and is at around 4% discount to the stock’s Thursday closing price of 13.415 pounds. ($1 = 0.7281 pounds) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Vinay Dwivedi)

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