Peter Hargreaves sells £550m of HL stock

Strong investor demand

David Brenchley
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Peter Hargreaves still owns 24.3% of Hargreaves Lansdown
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Peter Hargreaves still owns 24.3% of Hargreaves Lansdown

Hargreaves Lansdown co-founder Peter Hargreaves has offloaded £550m of stock in the company to institutional shareholders, as he looks to “diversify his assets”.

Hargreaves had told the market he intended to sell £500m of stock on Thursday (6 January), but on Friday said he had increased that by £50m due to "strong investor demand". The sale of shares represents around a fifth of Hargreaves' shareholding and the founder insisted he would "remain, and continue to be, a substantial shareholder in Hargreaves Lansdown". Hargreaves Lansdown suffers significant withdrawals on multi-manager funds trapped in LF Equity Income "I am very proud of the business that I co-founded and helped to build," Hargreaves said. He now owns 24.3% of the firm's sha...

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