The chairman of AO World has sold £10 million of shares in the white goods retailer, further denting investor confidence in the company.
Richard Rose has offloaded 5.6 million shares in the online retailer, 89 per cent of his holding, at 180p a share, a discount on Friday’s closing price of 191.60p.
His sell off follows a shock profit warning from AO World in February which sent the shares crashing by as much as 47 per cent.
The sale, carried out after markets closed on Friday, sent shares in AO World down another 4 per cent in early dealings.
It caps an eventful 12 months for AO World, whose shares had soared after floating at 285p in one of the most high-profile London listings last