Peter Hargreaves sells £550m of HL stock

Hargreaves had told the market he intended to sell £500m of stock on Thursday (6 January), but on Friday said he had increased that by £50m due to "strong investor demand". The sale of shares represents around a fifth of Hargreaves' shareholding and the founder insisted he would "remain, and continue to be, a substantial shareholder in Hargreaves Lansdown". "I am very proud of the business that I co-founded and helped to build," Hargreaves said. He now owns 24.3% of the firm's shares. Fund managers who hold Hargreaves have long been bullish on the stock, backing the firm despite cr...