LONDON (Alliance News) - Martin Lewis, the founder and editor-in-chief of MoneySavingExpert.com, has sold a 1.6% stake in price comparison website Moneysupermarket.com Group PLC for GBP25.2 million.
Credit Suisse on Friday said it sold 9.0 million shares on behalf of Lewis, who sold MoneySavingExpert.com to Moneysupermarket in 2012, leaving him with a 1.5% stake in the company.
Lewis, who still holds 8.4 million shares in the company, will be unable to sell further shares for 180 days on completion of the placing.
Another 4.3 million shares were placed with investors on behalf of the Charities Aid Foundation, which cut its holding to 0.1% from 0.9% as a result.
The placing raised GBP12.0 million for the charity, which received its shares as a donation from Lewis.
The shares were sold at 280 pence per share. Moneysupermarket shares were down 5.1% to 281.4 pence on Friday morning, the worst performer in the FTSE 250.
Credit Suisse was the sole bookrunner on the placing.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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