Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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 Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter