Founder of Ewloe based Moneysupermarket.com abandons £100m share sale.

Simon Nixon the founder of Moneysupermarket.com announced yesterday he was to sell a 6.4% stake in the Ewloe based company he set up in 1999.

A statement released by the company on Tuesday afternoon said Mr Nixon was to sell 35m of shares reducing his stake by 10%.

However, another statement was released this morning simply saying;

“Further to yesterday afternoon’s announcement, Simon Nixon has decided not to proceed with the proposed sale of shares.”

The surprise u-turn has saw shares fall at one point by 7% however as the morning wore on they started to bounceback.

Speculation in the city and by some financial commentators suggest Mr Nixon may not have been able to achieve the desired price for the shares.

Nixon has to date sold £400m of shares since the company was floated on the stock market in 2007.

There has been no comment from either Moneysupermarket.com of Citigroup who were handling the sale as to why the sale was halted.

Feature Image: stantonphotographic.com