Asos co-founder to sell 1.3m shares to fund divorce settlement

Discussion in 'Market News' started by Lily, May 25, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
    Likes Received:
    Nick Robertson intends to sell about 1.6% of online fashion retailer’s share capital after being ordered to pay ex-wife £70m

    One of the founders of Asos is selling a chunk of his shareholding in the online fashion retailer to fund his £70m divorce settlement.

    The company announced that Nick Robertson, who stepped down as chief executive last year, wished to sell 1.3m shares though a placing with institutional investors. The share disposal plan, revealed after the stock market had closed, would raise £46.4m based on the closing price of £35.71.

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