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The global fashion business journal

Jan 24, 202010:37pm

Boohoo’s founders sell 143 million of shares

Mahmud Kamani and Carol Kane have sold 142.5 million pounds (187 million dollars) in shares of the ecommerce platform.

Dec 9, 2019 — 6:10pm
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Boohoo’s founders sell 143 million of shares

 

 

Boohoo’s founders sell shares. Mahmud Kamani and Carol Kane, which founded the company in 2006, have sold 142.5 million pounds (187 million dollars) in shares of the british ecommerce platform.

 

After the sale, Kamani and Kane still own 15.8% of the company’s shares. This happens a week after Boohoo announced its plan to sell up to 4.2% of its shares, which sent the online retailer’s stock down in early trading.

 

The company has ended the first half of the year with a 43% growth, up to 564.9 million pounds (705.7 million dollars). The company’s gross profit, on the other hand, rose by 40%, to 306.5 million pounds (382.9 million dollars).

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