Newsletter

Get your daily update and weekly newsletter by signing up today!

News

Mike Ashley Raises £100m With Share Sale

8 years ago
Share

Shares in Sports Direct fell by around 7% when word went around the City that Mike Ashley had raised £100m by selling 25m shares at around £4 each.

The Guardian are now reporting this as being confirmed and an official announcement is expected, the move means Ashley’s stake is reduced to 64% from 68.6%.

The shares fell 31.9p to 398.6p on the back of this news.

Last week Sports Direct reported a 23% rise in profits during the Chrsitmas quarter and confirmed it was certain of hitting its full year target.

The Guardian speculates that Newcastle fans may be hoping that some of the money is destined for the transfer market but they also repeat the rumours about Mike Ashley’s supposed interest in House Of Fraser.

Though it is also suggested that Newcastle’s owner could be simply planning ahead to the upcoming end of the tax year, though I suppose if that was the case then his tax worries would be slightly different to most of us.

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2020 The Mag. All Rights Reserved. Design & Build by Mediaworks