Australia's Cettire set for worst day in 2 months after founder sells stake

Cettire

17/11/2022 23:56

** Shares of Cettire  CTT.AX  drop as much as 14.6% to
A$1.435, set for their worst day since Sept 5, if losses hold 
    ** The online retailer says founder and Chief Executive
Officer Dean Mintz has agreed to sell down about 41 mln shares
of co for A$1.46 per share  urn:newsml:reuters.com:*:nFWN32D5C6
    ** Total sell-down of about A$59.9 mln represents 10% of
co's issued capital 
    ** Cettire says after the sale the CEO will still retain
45.9% stake in co and remain its biggest shareholder 
    ** Stock down 52.8% this year, as of last close
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))