Regis Healthcare co-founder Bryan Dorman is selling a $108m holding in the company through investment bank Jarden.
Shares were being offered at $7.18 each, a 3.5 per cent discount to the last traded price of $7.44.
The sale by the Dorman Family Trust represents a 5 per cent holding and it retains 16.4 per cent in Regis.
It comes after Mr Dorman offloaded 5.81 per cent last year, at $3.90 per share, through Bank of America.
The trade represented 5.81 per cent of the stock and was worth $68.25m.
The stock had earlier closed at $3.93.
Mr Dorman co-founded the business with Ian Roberts.
After Regis was floated, Mr Dorman and Mr Roberts have each held close to 30 per cent of the business, which Soul Patts bid $1.85 a share for in 2020.
That offer was rejected.
Further government funding for the sector led some to expect a wave of takeover activity.
The funding has offered a value boost to Regis, one of the higher-quality aged care providers.
Bain Capital has already purchased listed rival Estia for $838m.
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