June 12, 2019 / 8:34 AM / a month ago

BUZZ-Amigo Holdings: Falls as top shareholder looks to sell shares

** Consumer credit provider Amigo Holdings falls 5.4% to 276p; stock erases its YTD gains

** AMGO’s top shareholder, Richmond Group Ltd, looks at the possibility of selling some of its holding in a secondary placement

** Richmond, holder of about 61.4% of AMGO, chose not to proceed with the sale at this time but continues to “actively consider” it

** The venture capital and mezzanine firm plans to be a significant shareholder of AMGO in the long term but wants to diversify its portfolio

** At its current level, AMGO is now down 1.8% YTD

Reporting by Shariq Khan in Bengaluru

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