Asos founder trims stake but analysts sanguine
Asos founder Nick Robertson sold a large amount of shares on Thursday due to personal needs for additional liquidity arising from recent developments in his personal life.
ASOS
368.00p
08:20 15/11/24
0.66%
2.40p
FTSE AIM 100
3,526.47
08:35 15/11/24
n/a
n/a
FTSE AIM 50
3,957.98
08:35 15/11/24
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FTSE AIM All-Share
728.46
08:35 15/11/24
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General Retailers
4,596.17
08:34 15/11/24
-0.19%
-8.77
His disposal did not reflect "a change in confidence with respect to the prospects of the business", Shore Capital analyst George Mensah pointed out.
Robertson was forced to part with 1.305m shares in the online fashion retailer he helped found.
The share sale was to be conducted via a secondary placing to institutional investors at a price of 3,525p each.
His remaining 6.6% stake in the company would be subjected to a 90-day lock-up period following the completion of the placement.
As of 08:32 BST shares in Asos were 0.42% weaker at 3,556p.