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 Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter