Auction Site QXL To Sell 17 Percent Stake Via Share Offer

eBay rival and veteran QXL Ricardo is effectively putting 17 percent of itself up for investment sale as Dutch owners Florissant and the Izaki group look to sell around 7.25 million shares. Managers and other employees are offering another 915,995 shares for sale, the company said. Thomson: “The placing is intended to allow the selling shareholders to diversify its investment portfolios, and following the placing, these shareholders will continue to own about 14.5 mln shares in QXL, representing about 33.3 pct of the issued share capital of the company.” QXL shares were down on the news.