The shares of Barclays PLC (BARC) retreated more than 4% in early London trading session on Tuesday, after a top investor reportedly sold stock equivalent to a 3% stake in the company.
According to a report by Reuters, an investor, whose identity was not disclosed, initiated a sale of 575 million shares on Monday evening, facilitated by Goldman Sachs.
The offering was priced at 150 pence on Tuesday, towards the top of the 147.50-150.75 pence target range, but it was still a discount of over 6.2% compared to the closing price on Monday.
As of 8:02 GMT on Tuesday the shares of Barclays PLC were losing 4.41% (7.08 pence) to trade at 153.40 pence in London. Yesterday the stock closed 4.08% lower at 160.48 pence, while extending a recent streak of losses.
The shares of Barclays PLC have retreated 17.64% so far in 2022, compared with a 2.10% gain for the benchmark index, FTSE 100 (FTSE).
The stock sale came at a time when Barclays seeks to cope with a fresh compliance and risk mis-step, after the bank reported a GBP 450 million loss yesterday.