Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Stephen Lansdown sells £200 million HL stake

Stephen Lansdown sells £200 million HL stake

Stephen Lansdown has sold 14.5 million shares in Hargreaves Lansdown (HL).

It is Lansdown’s first major disposal of shares since April 2013, when he netted around £50 million from the sale of 5.5 million shares.

Following the latest disposal Lansdown (pictured), who co-founded HL with Peter Hargreaves in 1981, now owns 75.5 million shares representing a 15.92% interest in the firm.  

According to an announcement on the London Stock Exchange last night, Lansdown sold the shares on 25 March.

Based on a closing price of £14.06 on that day, Lansdown netted a windfall of around £200 million on the disposal.

Shares in Hargreaves closed at £14.76 on 26 March, a gain of 5% as they moved towards a 52-week high of £15.80.

Shares in the Bristol-based firm have been in demand since last week’s Budget revealed the ISA allowance will be increased from £11,520 to £15,000. Its stock rose by 15% in the afternoon following the announcement.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Play JP Morgan AM's Conte: why France is my biggest overweight

JP Morgan AM's Conte: why France is my biggest overweight

The European Smaller Companies trust fund manager is also finding opportunities within the European IPO market.

Brewin's Foster: running out of value with Sandy Nairn

Brewin's Foster: running out of value with Sandy Nairn

In this week's podcast, Guy Foster and Dr Sandy Nairn discuss caution towards the stretched valuations most stock markets today currently offer.

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter