A mere five months after listing, Booktopia’s chief executive, Tony Nash, took the opportunity last week to sell 1.56 million shares on market for around $4.2 million. Which isn’t long after Nash decided to keep every one of his shares through the IPO.
Booktopia’s chairman, Chris Beare, said the share sales were demand-led following a request from institutions and other clients of Shaw and Partners stockbroking. Which goes to show the seismic swing in investor sentiment towards the online book store.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
