Breedon Group PLC - Derby, England-based construction materials - Abicad Holding Ltd buys 5.3 million shares at 75 pence per share, worth £4.0 million, in a reverse accelerated bookbuild run by Deutsche Bank. Abicad, which is represented on the Breedon board by Breedon Chair Amit Bhatia, now has 170.3 million shares, about a 10% stake. In announcing its offer late Thursday, Abicad said it was willing to buy up to 84.7 million additional shares, saying this was ‘a signal of Abicad’s continued belief in the business and Breedon’s overall strategic direction’. It confirmed it is not intending to make an offer for the company. Breedon on Wednesday had announced its plan to move to the London Main Market from AIM in the second quarter of 2023.

Current stock price: 75.36p, up 4.1% in London on Friday

12-month change: down 8.8%

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