Auto Partner Shares Drop 11% After Shareholder Sells 4 Million Shares

3-line summary

• Shares of Polish auto-parts distributor Auto Partner (APR) fell more than 11% intraday Wednesday after its largest shareholder, the Turzynska Family Foundation, sold 4 million shares (about 3.06% of voting rights) at a discounted zł27 per share via an overnight accelerated bookbuild, according to Investing.com.
• The sale raised roughly 108 million zloty; the foundation retains 52,944,758 shares (about 40.53% of shares outstanding) and agreed to a 540-day lock-up on its remaining stake. The article does not disclose the foundation's reason for the sale.

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