July 24, 2018 / 6:21 AM / 21 days ago

Superdry founder Dunkerton sells 6.7 percent stake

LONDON, July 24 (Reuters) - British fashion retailer Superdry said on Tuesday its co-founder Julian Dunkerton has sold a 6.7 percent stake in the company, reducing his holding to 18.5 percent.

Dunkerton, a former chief executive of the company who quit as a director in March, sold 5.5 million shares through a placing to institutional investors at 1,285 pence a share, raising 71 million pounds ($92.9 million).

He has agreed not to sell any more shares for 90 days following completion of the placing. ($1 = 0.7645 pounds) (Reporting by James Davey Editing by Alistair Smout)

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