Moonpig tumbles after hefty share sale by private equity backers

Moonpig experienced its worst day of trading in three years as private equity backers cashed in significant stakes at a double-digit discount.
The decision sent shares plunging resulting in what became the greetings card retailer’s worst day of trading as a listed company.
The group of investors, led by private equity firm Exponent, sold 25m shares in the FTSE 250 retailer at 160p apiece, more than 10% below Wednesday’s closing price of 178p.Subscribe to Retail Gazette for free