What was the founders\' stake worth when these figures were published? Luxury ri

Question

What was the founders' stake worth when these figures were published?

Luxury rideshare firm LuxRide prices at 124 pence per share today after an Initial Public Offering (IPO), valuing the firm at £139m. Its biggest backer StanCorp is selling 80 percent of its holdings and will be left holding 9 percent of the firm's shares. The founders will sell 50 percent of their shares and be left with 22 percent of the firm. Finally, GBO, the last of the firm's backers is selling 18 percent of its shares, leaving them with 9 percent of the firm. After the IPO, 60 percent of LuxRide's stock will be sold. The shares are being sold for E83.4m. Markets had expected 45 percent of the stock to be available, but high demand pushed the sale up another 15 percentage points. It is understood that investors would have bought more, but StanCorp was keen to hold on to some of the company. The entire offering was covered by UK funds, without the need to tap up overseas buyers. LuxRide has expanded into foreign markets recently and many investors feel they have the potential to gain even more global traction. The buzz caused by this IPO has been electric -let's see if LuxRide can live up to expectations.

Explanation / Answer

Answer:

It was clearly mentuined in the question saying that ,The Founders will sell 50% of their shares and left with 22% of shares of the firm.

Hence the answer is 22%of shareholding will be the Founder's Stake when these figures were published.

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