View the article online at http://citywire.co.uk/new-model-adviser/article/a675740
Lansdown pockets £53m from Hargreaves share sale
by Jun Merrett on Apr 25, 2013 at 07:30
Hargreaves Lansdown co-founder Stephen Lansdown has pocketed £53 million after selling 5.5 million shares in the discount broker.
Lansdown still has 90 million shares in the Bristol-based company which represents a 19% stake.
Hargreaves Lansdown shares were priced at £9.60 per share at the time Lansdown's selloff was announced giving him £52,800,000.
Earlier this week he was ranked 95th on the Sunday Times Rich List, up from 152nd place the year before as his wealth increased from £549 million to £900 million.
Lansdown left Hargreaves Lansdown's board in November 2012 after founding the company with Peter Hargreaves in 1981. He was chairman of the group before becoming a non-executive director in 2010.
News sponsored by:
Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.
Today's top headlines
More about this article:
Look up the shares
More from us
- Stephen Lansdown to step down from Hargreaves board
- Stephen Lansdown sells £58 million stake in Hargreaves Lansdown