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cash advance BusinessHarmoney founder, employees to cash in nearly $24m on share sale and IPO3 Nov, 2020 04:46 AM6 minutes to readThe trustee company of Harmoney founder Neil Roberts will cash in some of its shares as part of the share market float. It is due to list on November 19.They will sell 6,428,572 shares into SaleCo a special purpose vehicle set up to facilitate the process which will then on sell the shares as part of the offer. Shareholders who don’t sell shares into SaleCo including Heartland Group, Trade Me and Kirwood Capital Partners will then have their ownership scaled.Read MoreHarmoney said to be seeking $98m in IPO NZ HeraldConsumer lender Harmoney’s $15.4 million loss NZ HeraldHarmoney fined $292k for misleading consumers NZ HeraldHarmoney to plead guilty to misleading consumers: Commerce Commission NZ HeraldRoberts, who founded Harmoney in 2013 as New Zealand’s first peer to peer lender, will remain the biggest shareholder through his trustee company but will sell 1,155,000 shares into SaleCo reducing his stake from 27.5 per cent to 24.4 per cent.After scaling, his stake in Harmoney will drop further to 18.4 per cent.Harmoney chief executive David Stevens will also sell shares into SaleCo while other existing shareholders who are not individually named will collectively sell 4,352,297 shares.According to the prospectus the sell down is mainly to allow employee and director shareholders to cover income tax liabilities associated with those shares..cash advance

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