One franchisee has sold $650 million worth of Chemist Warehouse shares, another a stake valued at $380 million. Ever since the pharmacy giant’s debut on the ASX through a merger with wholesaler Sigma Healthcare, its biggest shareholders have been making a mint offloading stock.
In all, some 37 per cent of the $13.8 billion in shares that are not restricted from sale have changed hands since the February backdoor listing, which created one of the largest companies on the ASX and transformed Chemist Warehouse’s founders into some of the wealthiest people in the country.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
