Aberdeen Group (LON: ABDN), the asset and wealth manager, is selling 52 million shares in Standard Life (LON: SDLF) through an accelerated bookbuild launched after the London close today. The shares are about 5.2% of Standard Life’s issued share capital and halve Aberdeen’s holding from about 10.3%.
Standard Life, a retirement and savings group, closed today at 871.5p, down 0.91% from 879.5p. Aberdeen closed at 234.4p, down 1.43%. Both moves came before the announcement at 5.25pm, so the market has not yet traded on the news.
A bookbuild is an overnight auction of shares to institutions that sets the price. It may close at any time, the placing depends on demand and market conditions, and no price or discount has been stated. Results are due before the London open tomorrow.
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Aberdeen says the proceeds follow its capital allocation policy, including its expectation to redeem £210m of Additional Tier 1 debt, high-risk capital bonds, at the first call date in December. Its 2026 targets and dividend policy are unchanged. Chief executive Jason Windsor said:
The transaction announced today is further progress to simplify our group, as we seek to deliver on our ambition to become the UK’s leading Wealth and Investments business.
Jason Windsor, Aberdeen Group
Standard Life is not a party to the placing, receives no proceeds and issues no shares, so the sale moves existing shares between holders and does not dilute anyone. At today’s close the 52 million shares are worth about £453m, an indicative figure rather than the placing price.
Standard Life (SDLF.LSE) share price in pence, daily closes, 1 June to 7 October 2026, with the placing announcement marked.
Goldman Sachs International and J.P. Morgan Cazenove are joint bookrunners, and Evercore is Aberdeen’s lead adviser. Aberdeen will remain a key asset management partner to Standard Life under their relationship, which began in 2018.
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