Nixon raises £200m from Moneysupermarket share sale
MONEYSUPERMARKET co-founder Simon Nixon has raised £200m by selling a large portion of his holding in the company.
His intention to sell 80 million shares, or 14.8% of the business, was announced this morning but demand was so high he released 100 million shares.
They were sold today at 200p each although the value of shares in the company reached 216p during the day and closed at 206p.
The trade means Mr Nixon has sold 18.5% of the business, based in Ewloe near Chester, but he still holds a significant stake.
Bookrunner Credit Suisse said the move will allow Mr Nixon to diversify his personal holdings and was in line with his move from executive deputy chairman to non-exec deputy chairman in April. It is his first substantial share disposal since the company floated in 2007.
Mr Nixon became a self-employed mortgage consultant in 1989 and started his own trade publication which compared mortgages. He launched Moneysupermarket in 1999 and the business floated at 170p a share, valuing the group at £840m. At the time Mr Nixon took the opportunity to cash around £100m.
