Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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.
Your Business: Cover Star Club

Profile: 'women make very good wealth managers'

Profile: 'women make very good wealth managers'

JM Finn's head of investment Sarah Soar warns women in positions of seniority will remain an anomaly for generations to come

Wealth Manager on Twitter