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Hargreaves Lansdown's Hunter bags £1.5m in share sale

The firm's investment marketing director Ian Hunter has taken profits, selling 200,000 of his shares in the firm at a staggering 371.7% premium to their flotation price.

 
Hargreaves Lansdown's Hunter bags £1.5m in share sale

Investment ‘supermarket’ Hargreaves Lansdown (HRGV.L)’s investment marketing director Ian Hunter has netted £1.5 million by selling 200,000 of his shares in the firm.

Hunter, who has worked at the firm since 1997 and been a board member since 2009, sold at a price of 754.75p per share, netting £1,509,500. This equated to 0.0422% of the company’s stock. He retains 556,916 shares, representing 0.12% of the total shares in issue.

Hargreaves floated 25% of its shares at 160p back in May 2007 and they rose more than 50% on their first day of trading, valuing the company at just under £1 billion.

This earned co-founders Peter Hargreaves and Stephen Lansdown (pictured) windfalls of £81.6 million and £70.4 million. The latter has sold down his shareholding in part to fund Bristol City football club, where he is chairman.

Shares in Hargreaves closed at 751.50p yesterday, valuing the company at £3.56 billion. Investors who got in at the float price and held on have bagged a 369.68% profits on their stock.

4 comments so far. Why not have your say?

Mike of Dorset

Oct 26, 2012 at 14:39

Brilliant effort from two guys who have always given their clients a good deal, talked a lot of sense and at the same time progressed the HL brand very effectively.

That Steve is also a rather mean golfer as I know to my cost !!

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peter montgomery

Oct 26, 2012 at 16:32

Well done and deserved;a great pity that more in the personal financial services sector have not shown the ethics and responsibility that HL has done.Thank goodness that the majority of the company is still privately owned as,no doubt,it would appeal to those who have shown such avarice in the past .

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Forestbhoy

Oct 27, 2012 at 23:16

Think the more this mess goes on,the more people will start to actually "have" to become more interested in how their finance's are dealt with.No more just signing up to a pension at 25 and praying that at 65 you have enough to last the rest of your life.There are too many people who have retired in the last 15 years or so,that have told horror stories to the likes of myself,about charges,etc... People now want to feel in control of their future.That's why i think,for all their knockers on here,firms like HL will just get bigger and bigger....

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Rob Walker

Oct 28, 2012 at 08:02

It's not just Ian Hunter with a smile on his face. All those HL clients who took up the share offer when the company floated are in the same potential position. It has been a very good deal for many investors both as an investment and as a service.

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