Hasso Plattner Selling $155 Million Worth Of SAP Shares
SAP’s stock price is at an all-time high right now at about $78. SAP is growing in the enterprise software space despite intense competition with Oracle, Salesforce, Google, and Microsoft. SAP’s in-memory database service Hana has become the fastest-growing product in SAP’s history.
To capitalize on SAP’s high stock price, the company’s co-founder and chairman Hasso Plattner is selling around $155 million worth of stake. However he wants to make sure that he does not flood the market with his shares and lower the price. He will be selling around $13 million per month until the whole bath is sold.
Plattner is SAP’s largest shareholder with a stake of just under 10% of the company. Before this stock sale takes place, Plattner held around 121.49 million shares that are worth around $9 billion.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry