'Saving expert' Martin Lewis sells £25m Moneysupermarket shares
Martin Lewis has pocketed £25.2 million after selling a large chunk of his shares in Moneysupermarket.com.
Mr Lewis sold nine million shares at £2.80, reducing his stake in the price comparison site from 3.1% to 1.5%.
Credit Suisse acted as sole broker for the placing.
The remainder of his shares – just under 8.4 million - are subject to a further lock-up period of 180 days.
Mr Lewis is the founder of consumer website Money Saving Expert, which was purchased by Moneysupermarket in 2012. As part of that deal, he received £35 million in cash and was issued a total of 22.1 million shares, of which he handed 4.75m over to the Charities Aid Foundation (CAF).
The charity also sold the bulk of its stake today - 4.3 million shares worth £12 million – leaving it with a 0.1% stake in the firm.
Mr Lewis had previously confirmed he will step down as editor-in-chief of MoneySavingExpert in September and take up the role of executive chairman.
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