Greencore faces equity placement

CONVENIENCE food group Greencore suffered a sharp hit to its share price in early trading yesterday as it emerged that 29.5% of the group’s equity is about to be placed with new investors.

In a statement, Greencore confirmed Ulster Bank, which had acquired 29.1% of developer Liam Carroll’s stake in the group “no longer has a holding in the company”.

Shares in Greencore suffered their worst fall since July when news of the placing emerged. In early trading the stock was down 7.7%