Former mortgage broker and MoneySupermarket.com founder Simon Nixon is selling a 14.8 per cent stake in the business worth £160m.
Credit Suisse and Citigroup are managing Nixon’s sale of up to 80,000,000 shares, priced at 205p today, leaving him with a 30 per cent share in the firm.
Nixon worked as a mortgage broker and set up mortgage sourcing system firm Mortgage 2000 before founding Moneysupermarket.com in 1999.
It represents Nixon’s first major share sale since the firm’s IPO in July 2007 and reflects his desire to diversify his personal holdings.
The firm says the placing will increase liquidity in the company’s shares and help to normalise its shareholding structure.
Nixon will be barred from selling any more shares for nine months.
He moved from executive deputy chairman to non-executive deputy chairman on 11 April.
Moneysupermarket.com chairman Gerald Corbett says: “The placing by Simon Nixon will increase liquidity and help normalise the company’s shareholding structure. Simon remains a major shareholder and will continue to play a key role on the board as the non-executive deputy chairman.”