Two of Purplebricks’ major shareholders, Inflection Point Investments and Momentum Global Investment Management sold all of their shares in the online estate agency yesterday, amounting to just under 12% of the business. On its current market capitalisation of £5.92m, that would equate to around £700,000.
Inflection Point Investments and Momentum Global Investment Management, which own 4.78% and 7.18% respectively, have clearly decided the time is right to abandon the struggling online estate agency, which is currently up for sale. It is not clear who acquired the shares.
Yesterday, Purplebricks announced that potential buyer, Strike, has been given an exclusive period to negotiate a purchase.
EYE NEWSFLASH: Purplebricks grants ‘short period of exclusivity’ to potential buyer
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