The Barclay brothers, owners of The Daily Telegraph newspaper and The Ritz hotel, have sold their 10% stake in the InterContinental Hotel Group.
Broker Barclays Capital placed the 29.9 million shares at £11.20.
David and Frederick Barclay bought the shares through investment company Ellerman Corporation in 2006.
The brothers' 10% stake led them to become the group's biggest shareholders in 2007, according to Reuters.
InterContinental owns the Holiday Inn and Crowne Plaza hotel brands.
