Dr Martens tumbles as investor sells 70m shares in placing

Dr Martens tumbled on Friday after an unnamed investor sold around 70m shares in the iconic boot maker in a placing.

According to Bloomberg, the shares were placed at 57.85p each, which is discount of around 9.8% to the last closing share price.

The shares were placed via Goldman Sachs.

At 1130 BST, Dr Martens shares were down 15.8% at 53.95p.

(This story corrects an earlier story which stated that Dr Martens' largest shareholder, IngreGrsy, had sold the shares.)