Stephen Lansdown has sold off another significant stake in Hargreaves Lansdown, the business he co-founded.
An announcement to the stock exchange said he had sold 14.5m shares, worth an estimated £200m. He retains 75.5m shares, equating to just under 16% of the business.
The latest sell off follows a disposal of 5.5m shares in April last year which netted the businessman £50m. The latest sale took place on 25 March and is estimated to be worth a total of £200m.
Lansdown (pictured) stepped down from the Hargreaves Lansdown board in November 2012.
In the following days, the share price gradually declined, while still remaining above its pre-Budget level. On 25 March, the price began to increase, and the day after Lansdown sold his shares, it shot up 5%, to close at £14.81.
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