Tags: uber | kalanick | stake | share | lockup

Uber's Kalanick Sells 21% of His Stake After Share Lockup Expires

Uber's Kalanick Sells 21% of His Stake After Share Lockup Expires
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Monday, 11 November 2019 01:37 PM

Uber Technologies Inc. co-founder and former chief executive Travis Kalanick has sold nearly 21% of his stake in the ride-hailing company following the expiry of a so-called lockup period, a regulatory filing from late Friday showed.

Kalanick sold more than 20 million shares, worth nearly $547 million, according to the filing.

He still owns about 75.4 million shares in Uber, worth more than $2 billion, based on their Friday closing.

Shares of Uber (UBER) hit a record low of $25.58 on Wednesday, when trading restrictions on majority of the company’s 1.7 billion outstanding shares were lifted.

The San Francisco-based company’s shares were down 2.2% at $26.44 in morning trade on Monday. They have tumbled about 41% since the market debut in May.

© 2020 Thomson/Reuters. All rights reserved.


   
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Uber Technologies Inc. co-founder and former chief executive Travis Kalanick has sold nearly 21% of his stake in the ride-hailing company following the expiry of a so-called lockup period, a regulatory filing from late Friday showed.Kalanick sold more than 20 million...
uber, kalanick, stake, share, lockup
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2019-37-11
Monday, 11 November 2019 01:37 PM
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