17th Feb 2021 07:57
(Alliance News) - Hargreaves Lansdown PLC Co-Founder Peter Hargreaves sold GBP300 million shares in the fund supermarket, Barclays Bank PLC confirmed on Wednesday.
Hargreaves - who founded the firm alongside Stephen Lansdown in 1981 - sold 19.5 million shares at GBP15.35 each.
Following the GBP300 million bookbuild, he holds just shy of a 20% stake in the FTSE 100 firm.
Barclays Bank and Numis Securities Ltd were joint global coordinators and bookrunners for the offering and Evercore Partners International LLP was financial adviser to Peter Hargreaves.
In February of last year, Peter Hargreaves sold a GBP550 million stake in the company.
Shares in Hargreaves Lansdown closed down 1.0% at 1,653.00 pence in London on Tuesday, though the stock has risen 8.4% year-to-date.
By Eric Cunha; [email protected]
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