LONDON (Reuters) - Financial adviser Hargreaves Lansdown said on Friday its chairman had raised 47.15 million pounds through the sale of shares to help pay for a planned new stadium for soccer club Bristol City.
Stephen Lansdown, who is also the chairman of the Football League Championship team based in western England, sold 23 million of his 132 million shares at 205 pence each, the group said in a statement.
"Monies raised from the sale will be used to help fund private projects including the proposed new stadium for Bristol City Football Club, of which Stephen Lansdown is chairman," the group said in a statement.
Hargreaves Lansdown said that following the sale of the stake he would have 109 million shares, or a 22.9 percent holding, in the group.
Hargreaves Lansdown shares closed down 6.4 percent at 212.5 pence.
http://uk.reuters.com/article/fundsNews/idUKLNE53F01220090420
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