Moneysupermarket founder Simon Nixon is set to rake in £108m after selling 55 million shares in the price comparison website.
The new windfall is on top of the £300m Nixon made after the company’s float in 2007 and the sale of 100 million shares last year.
Brokers Citigroup and Credit Suisse are running the sale at 0.02p a share. The 55 million shares Nixon is selling represent 10% of the company.
After the sale, Nixon will be prevented from selling any further shares in the company for a 180 day lock-up period.
Gerald Corbett, chairman of the Moneysupermarket.com said, “The placing by Simon Nixon will further increase liquidity and the number of shares in public hands. Simon remains a major shareholder and will continue on the board as non-executive deputy chairman”.