Asos boss Nick Robertson sells £20m-worth of shares

Asos boss Nick Robertson has had a lucrative afternoon. 

 

The founder and chief executive of the hugely succesful etailer has sold nearly 750,000 shares, worth more than £20.2m. 

 

The shares were sold at an average price of just over 2,716p each. It puts January pay day into perspective for the rest of us.

 

That is just the tip of the iceberg when it comes to Robertson's wealth though. After the disposal he still holds seven million Asos shares – worth 8.39 per cent of the total issued share capital. Asos' market cap is currently £2.18bn.

 

Asos share price ended the day down 1.3 per cent at 2,611p. But it looks like the share price could open around five per cent lower tomorrow.

 

Robertson has sold the shares at a higher point than they were at the start of the 2015, but after a year in which Asos has been plagued by profit warnings, slowing international sales and a fire at its warehouse, the share price is down more than 50 per cent on this time in 2014.