£143million share sale by Boohoo founders
The founders of Manchester online retailer, Boohoo, are selling 50m of their shares, or 4.3% of the company.
Should all the shares be sold, they would be worth up to £143m.
Mahmud Kamani will be placing 35m ordinary shares, while Carol Kane is placing 15m. Even after the placement, they would still hold 13.1% and 2.7% of Boohoo respectively.
Both have stated that they will not dispose of any further ordinary shares in the company for a period of 18 months, subject to a number of conditions.
Kamani is the Group Co-Founder and Group Executive Chairman of Boohoo, while Kane is the Group Co-Founder and Executive Director.
Earlier this week, the Boohoo released an update to say that trading had remained strong across its key brands, with a record performance over the Black Friday weekend.
The statement added that the group continued to “trade comfortably in line with market expectations.”