ASOS founder Nick Robertson sells shares worth almost £8.5m

ASOS founder Nick Robertson disposed of 150,000 shares today at an average price of £56.62 per share, totalling almost £8.5m.

Robertson, who stood down CEO in 2015, retains more than 5m shares in the business he co-founded in 2000, which equates to 6.04% of its issued share capital, a stock market statement has revealed.

This is the second large chunk of shares that Robertson, who remains a non-executive director in the business, has offloaded this year. In January he sold a stake worth £15m taking his shareholding at that point down to 6.23%. In 2016 he sold shares worth £46m to help fund a £70m divorce payout.

After he stood down as CEO, Robertson was replaced by the business's former COO Nick Beighton. The young fashion etailer recently posted its year-end results for the 12 months to 31 August during which it recorded sales up 33% to £1.92bn.