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Stock impact report

UPDATE 2-Co-founder of Hargreaves Lansdown to sell shares [Reuters]

HARGREAVES LANSDOWN ADR (HRGLY) 
NASDAQ:AMEX Investor Relations: hl.co.uk/investor-relations
Company Research Source: Reuters
UPDATE 2-Co-founder of Hargreaves Lansdown to sell shares * Peter Hargreaves owns 31.59% stake in company * Says sale to diversify assets * To continue to be substantial shareholder in company (Adds Hargreaves Lansdown declined to comment, stake details) By Noor Zainab Hussain Feb 6 (Reuters) - Hargreaves Lansdown’s largest investor Peter Hargreaves will sell shares worth about 500 million pounds ($647 million) in the British investment platform via a sale to institutional investors, a bookrunner on the deal said. “This is part of a process of long-term financial planning to diversify my assets. I remain, and will continue to be, a substantial shareholder in Hargreaves Lansdown,” Hargreaves, who co-founded the firm with Stephen Lansdown in 1981, said. The sale will come just days after a slowdown in net new business growth overshadowed an increase in half-year profit for Hargreaves. The company declined to comment. Hargreaves Lansdown has faced a tough year after funds it backed, run Show less Read more
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