IWG slumps as CEO Dixon sells 35m shares

IWG slumped on Wednesday after chief executive Mark Dixon sold 35m shares in the flexible workspace provider.

The shares were sold by Dixon's investment vehicle Estorn Limited at £1.9582 each. Proceeds from the disposal will be used to unwind pledge and lending arrangements entered into by Estorn with Deutsche Bank Luxembourg.

At 0905 BST, the shares were down 6.9% at 192.80p.