Richard Branson to sell $500m worth of Virgin Galactic shares
by Rob Davies from Science | The Guardian on (#53AG9)
Billionaire puts more than fifth of stake up for sale to help prop up airline and rest of group
Sir Richard Branson is to sell $500m (405m) in Virgin Galactic shares in order to prop up his airline and leisure interests, which have been ravaged by the coronavirus crisis.
In a statement to the New York Stock Exchange, Branson's Virgin Group said it intended to sell 25m shares via a series of transactions, prompting a 5% fall in the share price of Virgin Galactic during pre-market trading.
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