Hargreaves Lansdown shares slide after co-founder Peter Hargreaves dumped an additional £ 300m of his stake in the company
- As a result of the share sale, Hargreaves’ total stake in the company is less than 20%
- Co-founder Stephen Lansdown has also reduced his stake in Hargreaves
- Twelve months ago, Peter Hargreaves sold approximately £ 550 million worth of shares
Hargreaves Lansdown shares were the biggest faller in the FTSE 100 today after it was revealed that co-founder Peter Hargreaves sold nearly £ 300 million of his shares in the company.
They fell 6.9 percent to £ 15.40 after it was confirmed the billionaire had outsourced nearly 20 million shares, or about 4 percent of his stake, to institutional investors.
The sale increases his total stake in the financial services giant to less than 20 percent and comes twelve months after he traded £ 550m worth of stocks as part of an asset diversification plan.
The sale increases its total stake in the financial services giant to