EQT is taking a beating in Stockholm trading Wednesday after several partners have sold equity worth SEK 23.3bn (EUR 2.29bn) in the private equity firm, reports Bloomberg News, pointing out this takes place after the company opted to allow insiders to trade EQT stock earlier than planned in the wake of a big valuation surge after its 2019 listing.
EQT's share price fell by 4.9 percent to SEK 380.80 after insiders sold a total of 63.1 million shares at SEK 370 a piece.
The Stockholm-based firm's valuation had otherwise sextupled since its listing in September of 2019, having been driven by record-large volumes of capital and a great many trades.
On the Danish market, EGT has participated in listing construction group Huscompagniet, the last shares of which the private equity firm sold off in mid-August.
To ease that sale, EQY slackened restrictions set up to prevent insider equity divestment until September of 2022.
The insider traders include Connie Jonsson, who has sold 5.3 million shares, and Morten Hummelmose, who has also offloaded interest in connection with the big sale.
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