The FCA has temporarily suspended Hargreaves Lansdown shares from trading ahead of the company being delisted from the London Stock Exchange tomorrow (25 March).
This suspension, which applies to equity shares, follows the £5.4bn takeover of the company by a private equity-backed consortium in October.
The consortium, made up of CVC, Nordic Capital and an Abu Dhabi Investment Authority subsidiary Platinum Ivy, previously had two bids rejected.
The second that was turned down offered 985p per share.
However, the revised offer of 1,140p per Hargreaves Lansdown share by Harp Bidco was accepted by the board in August last year.
The suspension was announced this morning (24 March), at the request of the company.
The transition from public into private ownership has also seen Hargreaves Lansdown’s chief financial officer (CFO) Amy Stirling step down from her role.
Recruitment is underway, and Stirling will remain with the business to provide sufficient time for a successor to be appointed.
She joined in February 2022 and has overseen a number of key developments in that time.
