2 Min Read
(Reuters) - Top shareholder Invesco Perpetual trimmed its stake in UK's Allied Minds (ALML.L), according to a regulatory filing issued on Friday, as shares of the tech and life-sciences incubator slid to all-time lows.
Shares in Allied Minds, that invests in technology and healthcare startups, suffered its worst day on record earlier this week, after it said it would stop funding seven of its portfolio companies.
Its shares have lost more than 60 percent this year with an accelerated selloff over the past month taking them below their 2014 listing price.
Invesco, the second largest shareholder after Woodford Investment Management, disclosed on Friday it had sold 2.5 million shares, taking its stake down to 24.99 percent, according to regulatory filings.
The fund group previously held 27 percent of the company, according to Reuters data.
On Thursday, Singapore's sovereign wealth fund GIC Private, the third largest holder of Allied Minds, disclosed its stake had risen by 2.7 million shares to 8.27 percent, according to filings.
Allied Minds was one of the hottest UK initial public offerings (IPO) in the UK in 2014, rising threefold in the year after listing.
On Friday Allied Minds shares traded down another 0.9 percent at 173p.
Reporting by Alasdair Pal, Editing by Vikram Subhedar