Moneysupermarket.Com founder, Simon Nixon, sells nearly 15% of stake in the group. This was after he moves up to a non-executive office in April.
Credit Suisse, a joint book runner said Wednesday that Nixon is selling up to 80 million shares. These shares represent 14.8% capital in the group. The group is responsible in providing insurance quotes and other financial products.
According to a data from Thomson Reuters, Simon Nixon holds 259.8 million shares in the group as of March 4. This represents roughly 48% of share capital.
The sale is Nixon's first major disposal after having the company listed in 2007. This will also lead to a more diversified personal holdings for Nixon, Credit Suisse said.
Moneysupermarket.Com states that it would return US$107 million to its shareholders. This will be done through a special dividend of 12.92 pence per share. Citigroup was appointed as the other joint book runner.
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