Uber’s former CEO, Travis Kalanick, decided to sell 20.2 million shares of his former company for a total of $ 546.9 million, the company reported to the U.S. Securities and Exchange Commission (SEC) .
Kalanick’s stock market movement comes after the end, last week, of the 180-day period during which the shareholders who had entered the company before they went public cannot sell their shares.
Since the transport and mobility company debuted in May in the markets, the share price has plummeted more than 35%, reaching $ 26.92.
Kalanick, forced to resign from Uber in 2017, has already taken advantage of the company’s initial public offering of shares to make available to new investors 3.7 million shares at a price of $ 45, for which it obtained 168.1 million Dollars.
After this last sale, its participation in the company he founded has been reduced to around 78 million titles, which represent a 4.6% stake.
Source: El Financiero