Michael Kors is set to sell another 25 million shares of the company

WWD -Michael Kors is set to sell another 25 million shares of the company, according to a filing with the Securities and Exchange Commission.The company, which went public in December 2011, has seen stock prices almost double since the initial IPO - and this second sale is thought to be set to raise in excess of $1.2 billion (almost £800 million), the proceeds of which will go directly to the founder, as well as to chairman and chief executive officer John Idol; senior vice president of business affairs Lee Sporn; and Sportswear Holdings, a company controlled by Kors directors Silas Chou and Lawrence Stroll.

Share This :

Related Templates