Intercontinental Hotels is leading the FTSE 100 fallers on talk of a placing of a chunk of its shares.
Barlays Capital is said to be seeking buyers for 29.9m shares in the hotel group at between £11.20 and £11.30. The news has sent its shares in the market down 74p to £11.25.
The stock represents around 10% of the company, and the only single shareholder listed with that amount is Ellerman Corporation, the investment vehicle belonging to Sir David and Sir Frederick Barclay. The owners of the Ritz hotel and the Telegraph Group have built up their stake over a number of years and were once tipped as possible buyers of the business.
