Dean Mintz, founder and CEO of Cettire, has sold down 27.5 million shares in the Australian luxury marketplace.
The sell-down represents approximately 7.2% of the company’s issued capital.
The sale was undertaken at a price of $4.63 per share by way of an underwritten block trade.
Following this sale, Mintz will retain around 30% shareholding in the company and remains Cettire’s largest shareholder.
“Cettire continues to perform very strongly as demonstrated in the company’s recent H1-FY24 results,” Mintz said.
“In response to strong investor demand, undertaking this share sale provides enhanced liquidity and free float, improving the likelihood of achieving further major index inclusion over time.”
Mintz has agreed to escrow his remaining holding in Cettire until the release of the company’s full year results in August 2024.