Breedon shareholder plans to sell up to 8.3% stake

Breedon Group Plc shareholder M1 Cement Holding Ltd plans to sell up to 8.3 per cent of the company’s issued share capital via a secondary placing, according to brokerage JP Morgan Securities Plc.

M1 Cement plans to sell up to around 139.7m shares in the British construction-materials company. The price of the placing will be determined through an accelerated bookbuild process to institutional investors, the brokerage said.

Breedon shares closed 0.6 per cent higher at 65.40 pence on Tuesday.