 shares rebounded on Monday morning, after one of its founders sold double the amount of shares he initially announced. ){kind=link}
The price of Fever-Tree (LON:FEVR) shares rebounded on Monday morning, after one of its founders sold double the amount of shares he initially announced.
Charles Rolls, the founder and non-executive deputy chairman of specialist soft drinks company Fever-Tree, sold 3 million shares in the group for £82.5 million. This was double the number he had originally intended to sell, after he was faced with “significant institutional demand”. Rolls still holds 8.6 per cent of the company’s shares.
Fever-Tree shares sunk on the news of the transaction on Friday, falling from lows earlier in the month when investors sold off shares after a strong set of results. Shares recovered on Monday, however, and are currently trading down 0.18 percent at 2,802.00 (1409GMT).
The company has seen significant growth since its IPO in 2014, driven by sales of its specialist tonic water and benefitting from the resurgence of the British people’s taste for gin.