Money Kogan.com founders 'reluctantly' sell shares worth $42 million
Kogan.com is getting into whitegoods
Kogan.com has again expanded its portfolio offering, this time to the kitchen. Kogan.com has again expanded its portfolio offering, this time to the kitchen.
Kogan . com founder Ruslan Kogan has off-loaded some stock before Christmas. More than 32.4 million shares held by both Kogan and Shafer came out of escrow in August, and the duo wasted little time in offloading more than million worth of shares at a pop.
Shares in Kogan . com have tumbled on reports the founders of the online retailer were selling down their stakes. In October last year Ruslan Kogan sold 3% of his company for almost million .
Kogan.com's founders Ruslan Kogan and David Shafer have "reluctantly" sold $42 million worth of their shares in the company, a week after an even bigger attempted sell-off saw its shares tank.
The company said on Wednesday morning that Mr Kogan and Mr Shafer had received an unsolicited bid for 6 million shares and had "reluctantly accepted the bid due to personal financial commitments".
UBS offloaded the shares on the founders' behalf at a price of $7 each, according to The Australian Financial Review, valuing the sale at about $42 million.
Last week the pair tested the market for a sale of up to $100 million worth of shares, but no deal went ahead because they did not receive any acceptable offers.
Court date set for ANZ cartel case
ANZ Bank, Citigroup and Deutsche Bank will have their first court appearance on criminal charges of cartel conduct next month.After the three banks last week flagged they would be charged with alleged cartel behaviour over a 2015 capital raising, the Commonwealth Director of Public Prosecutions (CDPP) on Monday said court attendance notices had been issued.
Everybody likes Kogan . com shares except for its founder Ruslan Kogan who attempted to offload stock for the fourth time in a year. It was followed a day later by the news that Kogan and Shafer had successfully offloaded million worth of shares between them - which sent the share price
The Kogan . com Ltd (ASX: KGN) share price is on the nose today after The Australian Financial Review reported that its chief executive and founder Ruslan According to the AFR Mr. Kogan sold 3 million shares for .25 each at the same price as the CFO, David Shafer, sold 2.35 million shares .
But news of the founders' looking to sell sent Kogan.com's shares plunging as much as 12 per cent last Tuesday to lows of $8.56.
The stock took another hit after revealing the successful transaction on Wednesday, falling 3.4 per cent to $7.58 by midday.
The buyer or buyers of the 6 million shares remain a mystery for now. The parcel will constitute a significant holding if it is single owner, which must be disclosed to the ASX within two days.
The transaction is Mr Kogan's fourth major sell-down in the past year. He controlled 36 per cent of the company's stock at its last disclosure while Mr Shafer held 14 per cent.
"Mr Kogan and Mr Shafer remain fully committed to the business and continue to have the vast majority of their personal wealth invested in Kogan.com," the company said in a statement.
"Other than the trade outlined above, Mr Kogan and Mr Shafer will not be dealing in securities prior to September 2018."
Kogan.com was contacted for comment.
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Kogan . com founder Ruslan Kogan has off-loaded some stock before Christmas. More than 32.4 million shares held by both Kogan and Shafer came out of escrow in August, and the duo wasted little time in offloading more than $22 million worth of shares at $3 a pop.
Shares in Kogan . com have tumbled on reports the founders of the online retailer were selling down their stakes. In October last year Ruslan Kogan sold 3% of his company for almost $13 million .
Everybody likes Kogan . com shares except for its founder Ruslan Kogan who attempted to offload stock for the fourth time in a year. It was followed a day later by the news that Kogan and Shafer had successfully offloaded $22 million worth of shares between them - which sent the share price
The Kogan . com Ltd (ASX: KGN) share price is on the nose today after The Australian Financial Review reported that its chief executive and founder Ruslan According to the AFR Mr. Kogan sold 3 million shares for $4.25 each at the same price as the CFO, David Shafer, sold 2.35 million shares .
Under the new trading plan just filed, they will sell approximately 2 million shares each of Class B common stock (which will automatically convert to Class A shares upon sales), as well as another 2 million shares each of their Class C non-voting stock.
We have sold over 2.5 million products across Kogan Retail and Kogan Marketplace in the last 12 months alone. 42 Kogan . com Annual Report 2017. The aggregate amount of bonuses is $1,183,750 worth of shares at the offer price of $1.80.
If you’re a startup working on getting your very first sales or your first million in sales, this guide is for you. Make It Easy To Sample or Share : This entrepreneur sent The ones that were the easiest to close, get results for, and pay you the most money? If you sell to hotels – what about specialty hotels?
Mark Zuckerberg, Facebook’s chief executive, sold $ 42 .5 million worth of his company’s stock this week. In addition, two trusts controlled by Zuckerberg each sold 32,589 shares for a total of $10 million .
Ruslan Kogan. TITLE. Founder . COMPENSATION. Kogan . Com 's insiders have invested more than 2 million shares in the small-cap stocks within the past three ASX:KGN Insider_trading Dec 21st 17 More shares have been bought than sold by Kogan . Com insiders in the past three months. …
The cofounder of PayPal and Tesla Motors and founder of SpaceX reached self-made-millionaire status in 1999 at age 27 when he sold a web-software company for over $300 million . Today's estimated net worth : $1.89 billion. Larry Ellison: 42 .
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