UBS crosses 6m Kogan shares amid founders’ moves to offload stock

Ruslan Kogan. (Hollie Adams/The Australian)

Investment bank UBS has just crossed 6 million Kogan shares at $7 each, in a move thought to be linked to its founders offloading additional stock.

It comes after two of Kogan’s (KGN) founders, Ruslan Kogan and David Shafer, tried to sell a major stake in the company last week in a deal worth about $100 million.

Macquarie and Canaccord were involved in that trade involving the online retail company.

However, the deal was not completed when investors were not prepared to pay the asking price for the stock.

Mr Kogan holds about 45 per cent of the company while his colleague has just 13 over per cent.

Kogan shares yesterday closed at $8.19 and are trading this morning at $7.85