Sports Direct founder Mike Ashley has cashed £106m worth of shares in the sports retailer.
Ashley’s holding company, MASH Holding Limited, sold 16 million shares at 662.5p a share or 2.7% of the company.
The Telegraph has reported that MASH now owns 61.7% of Sports Direct, worth £2.5bn at a Thursday morning price of 675p.
Back in February, Ashley sold a 4.18% stake in the company making £100m.
Sports Direct entered the FTSE 100 in September. Yesterday, the retailer reported a 15% rise in sales in the nine weeks to September 29 to £464m.
- Follow me @LondonlovesBiz and @shrutitripathi6
- Try our free newsletter
You need to read:
Hedge fund TCI revealed as Royal Mail’s biggest shareholder
London businesses forecasting 4.4% profit growth in next year
Leave a Comment