NEW YORK (dpa-AFX) - A major shareholder of lubricant manufacturer Fuchs Petrolub has sold part of its ordinary shares, according to sources. Canadian investment firm Mawer Investments Management placed 2.5 million share certificates for 27.05 euros each, the Bloomberg news agency reported Thursday, citing documents at its disposal. This represents a discount of around ten percent on the Xetra closing price on the previous evening.

Previously, Mawer held 6.95 million Fuchs shares and thus around ten percent of the voting rights, according to Bloomberg. Thus, a total of around 3.6 percent of the voting shares changed hands with the placement.

According to the information provided, the ordinary shares were offered to institutional investors in an accelerated procedure. Fuchs shares were traded on the Xetra main market at 30.05 euros on Wednesday. On the Tradegate trading platform, the shares slumped by 7 percent in comparison to 27.95 euros on Thursday morning.

The non-voting preferred shares of the Group are represented in the Borsenindex MDax, as they are more actively traded. These fell by around 5 percent on Tradegate./he/men/tav/jha/