Gambling firm Cirsa drops after Blackstone sells part of its stake

Shares in Cirsa fall about 4% after Blackstone BX.N sold a stake of up to 4.2% at a discount via accelerated bookbuilding

LHMC Midco, owned by Blackstone, sold the shares at 12.75 euros each, which represents a discount of about 6.4% to the stock's Tuesday closing price

The placement, together with the overallotment option, represents up to 7 million shares

Following the sale, Blackstone continues to be the gambling company's biggest shareholder, holding about 74.2% of its share capital

Including the session's fall, the stock has dropped about 12% YTD