American private equity investment firm J.C. Flowers is reportedly planning to sell about 15.7 million shares in Britain’s OneSavings Bank, representing about 6.5% of the stake.
After the sale, J.C. Flowers will hold 50.1% interest in OneSavings Bank, according to a Reuters’ report.
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A bookbuilding process will close on 12 May 2015, Barclays, which will make the offering through its investment bank, the report added.
Along with the bookbuild, a number of existing shares in OneSavings Bank held on behalf of J.C. Flowers, which is equal to about 19.4%, will be sold under the bookbuild and will be distributed to certain investors in J.C. Flowers Funds.
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