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Jupiter to flog stake in Starling Bank

Jupiter Fund Management is in talks to sell its entire 10% stake in Starling Bank months after the digital lender's valuation passed £2.5bn, Sky News learns.

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Jupiter to flog stake in Starling Bank

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The £200 million sell-off comes as Jupiter looks to shut down liquidity chatter about its 'open ended' UK Mid Cap Fund, which is vulnerable to an investor run in light of declining values.

Source told Sky that Citi has been instructed to find a buyer for the stake, which has been hawked to "dozens" of perceptive investors.

UK digital bank Starling turned a £32m profit for the last financial year, marking its first full year of profitability. Unlike other fintechs, Starling has also seen its valuation increase in the last 12 months, reaching £2.5bn in April this year.

Jupiter's 10% dump is likely to be sold at a sizeable discount to that valuation.

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