Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

IWG Founder Sells £68.5m in Shares to Repay Bank Loan

by May 29, 2024
May 29, 2024
IWG Founder Sells £68.5m in Shares to Repay Bank Loan

Mark Dixon, the founder and chief executive of IWG, has sold a substantial stake in the serviced offices company, amounting to £68.5 million, to repay a bank loan. Despite the sale, Dixon, 64, still retains a 25.2% share in the company.

Dixon disposed of 35 million shares at just under 196p each through Estorn Limited, his wholly-owned investment vehicle. The shares were pledged as collateral for a loan from Deutsche Bank taken in December, the specifics of which were not disclosed.

The sale, executed by IWG’s largest shareholder, caused a stir among investors, leading to a significant drop in IWG’s share price. Shares fell by 14¼p, or 6.9%, to 192¾p during afternoon trading, marking their worst performance since March of the previous year.

Leveraging shares as collateral is a common practice among wealthy entrepreneurs. High-profile examples include Elon Musk, who has used Tesla shares for personal loans, Larry Ellison of Oracle, and Adam Neumann, co-founder of WeWork, a rival of IWG. Previously, Dixon had pledged shares in Regus, IWG’s predecessor, for a £7.7 million loan from Merrill Lynch, repaid in June 2009.

Dixon founded IWG in 1989, starting with an office in Brussels to cater to executives needing temporary office space. The company has since expanded to manage 3,500 offices across 120 countries. Post-pandemic, Dixon has shifted IWG towards a “capital-light” model, forming partnerships with landlords to manage office spaces rather than owning or leasing them directly. This approach mirrors the strategy of Marriott, which manages rather than owns hotels.

Over the years, Dixon has sold hundreds of millions of pounds’ worth of IWG shares, including a £27.5 million sale in 2005 to settle a divorce. After the latest sale, Dixon’s remaining stake in IWG is valued at approximately £490 million. The most recent Sunday Times Rich List estimated Dixon’s wealth at £923 million, ranking him as the 177th richest person in Britain.

Read more:
IWG Founder Sells £68.5m in Shares to Repay Bank Loan

0
FacebookTwitterGoogle +Pinterest
previous post
Surelock Homes Unlocks Victory as Best Small Business Name Champion 2024
next post
Getting To Know you: Jeremy Stern, Founder & CEO, PromoVeritas

You may also like

Changes to the Quattro four-wheel drive system. How...

February 20, 2023

The Influence of Esports on the Global Gaming...

February 18, 2025

Large Format Custom Printing Facts You Need to...

October 26, 2022

Frasers Group CEO Michael Murray warns of ‘softening’...

December 7, 2023

Coronation cheers pub trade but worries on energy...

May 2, 2023

Piers Morgan quits Murdoch empire to build Uncensored...

January 8, 2025

PR advice: Seeding a story is equally important...

September 23, 2022

Government pledges cheaper electric cars but ducks subsidy...

July 14, 2025

What are the requirements to form a company...

February 28, 2024

eBay to ban private e-bike sales over fire...

October 9, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • From Fentanyl to Nitazenes: Why the Drug War Keeps Making the Danger Worse

      August 12, 2025
    • How Government Changed the Most Popular Soft Drink in the World

      August 12, 2025
    • ‘Things need to change’: Senate Democrats sharpen criticism of Israel as humanitarian concerns grow

      August 12, 2025
    • Six by Nico launches ‘Six by You’ crowdfund, raising £1.75m in early access

      August 12, 2025
    • Virgin Media O2 launches £1m apprenticeship talent fund to boost diversity in stem

      August 12, 2025
    • MORNING GLORY: Trump meets Putin amid an era done away with John Quincy Adams’ ‘abroad’

      August 12, 2025

    Categories

    • Business (8,760)
    • Investing (2,199)
    • Politics (16,365)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved