Sept 14 (Reuters) - Investment fund Lone Star sold a larger-than-expected 27 percent stake in Spanish property developer Neinor Homes, bookrunners Citigroup, Credit Suisse and J.P. Morgan said on Thursday.
The initial stake placed in accelerated bookbuild on behalf of the company’s main shareholder was about 20 percent, representing roughly half of the investment fund’s stake, the bookrunners had announced on Wednesday.
The final sale of 21.3 million shares was priced at 18.5 euros per share, a 3.9 percent discount to Wednesday’s closing price.
The operation raised 394.6 million euros. (Anita Kobylinska; editing by Jason Neely)