Sports Direct's boss in i140m float blow

From: Evening Standard - London | Date: March 29, 2007 | Copyright information

RETAIL billionaire Mike Ashley missed out on a further i140 million windfall today after top US investment bank Merrill Lynch returned more than 46 million shares unsold as buyers desert newly floated Sports Direct.

The controversial i2 billion flotation of Sports Direct catapulted Ashley in among Britain's 20 wealthiest people. However, the stock has subsequently failed to trade above its offer price of 300p, falling as much as 15% at one stage, and today was still underwater at 276p...

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