Investment bank Citi has launched a block trade in online retail business Kogan.com, with the company’s founders divesting a stake of close to 7 per cent.
The company (KGN) is selling about 6 million shares through the investment bank at $6.41, which is a discount of about 9 per cent to the last close.
The shares are being offloaded by the founders Ruslan Kogan and David Shafer.
The pair had about 42 per cent of the listed business and the latest sale of just under 7 per cent of the stock takes their interest down to about 35 per cent.
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