Mike Ashley sells £106m Sports Direct shares

Sports Direct founder Mike Ashley has cashed £106m worth of shares in the sports retailer.

Ashley’s holding company, MASH Holding Limited, sold 16 million shares at 662.5p a share or 2.7% of the company.

The Telegraph has reported that MASH now owns 61.7% of Sports Direct, worth £2.5bn at a Thursday morning price of 675p.

Back in February, Ashley sold a 4.18% stake in the company making £100m.

Sports Direct entered the FTSE 100 in September. Yesterday, the retailer reported a 15% rise in sales in the nine weeks to September 29 to £464m.

 

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