Mike Ashley is selling ￡200m worth of shares in Sports Direct, the sportswear retailer he controls, just days after snapping up an 11 per cent stake in House of Fraser.
Goldman Sachs said it would place up to 24m shares in Sports Direct acquired from Mash Holdings, Mr Ashley’s investment vehicle, with institutional investors.
The shares are expected to be placed at between 850p and 870p each, a discount to Sports Direct’s closing share price of 893?p – valuing the tranche at about ￡200m.
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