Stephen Lansdown has sold off another significant stake in Hargreaves Lansdown, the business he co-founded.
An announcement to the stock exchange said he had sold 14.5m shares, worth an estimated £200m. He retains 75.5m shares, equating to just under 16% of the business.
The latest sell-off follows a disposal of 5.5m shares in April last year which netted the businessman £50m.
Lansdown (pictured) stepped down from the Hargreaves Lansdown board in November 2012.
The sale comes one week after Hargreaves Lansdown shares jumped 14% after the Chancellor announced the merger of the stocks and shares and cash ISAs, as well as sweeping pension reforms.
In the following days, the share price gradually declined, while still remaining above its pre-Budget level. On 25 March, the price began to increase, and the day after Lansdown sold his shares, it shot up 5%, to close at £14.81.
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