Sports Direct founder Ashley makes 110 million pounds from share sale
LONDON (Reuters) - Britain's biggest sporting goods retailer Sports Direct confirmed on Wednesday its founder Mike Ashley had sold a 2.6 percent stake in the company, raising 110 million pounds.
Shares in the firm were down 4.5 percent in early trade after Goldman Sachs said late on Tuesday it was conducting the sale on Ashley's behalf.
Ashley sold 15.4 million shares at 720 pence per ordinary share, Sports Direct said, a 5.3 percent discount to Tuesday's close of 760.5p.
The sale sees Ashley's total stake in Sports Direct fall from 57.7 percent to 55.14 percent, the company said.
(Reporting by Neil Maidment; editing by Sarah Young)
