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Highlights
- - WiseTech Global co-founder Richard White disclosed selling $450 million in shares.
- - Sales spanned over 43 days in the December quarter.
- - White retains significant control of WiseTech Global (ASX:WTC).
WiseTech Global (ASX:WTC) co-founder Richard White has drawn attention with significant on-market sales of company shares in the final quarter of the year. New disclosures reveal White sold shares worth approximately $450 million during the period, reflecting an active reshuffling of his ownership position within the company.
White’s share sales were conducted through his holding entity, RealWise Holdings, and other controlled organizations. Over the December quarter, he divested more than 3.5 million shares, selling on 43 separate occasions. Reports indicate daily transactions ranged from 60,000 to 100,000 shares, with some instances involving as many as 458,000 shares. Share prices during these sales varied between $117 and $135, providing White with a substantial return.
Despite these sales, White remains a major shareholder, retaining control of 36.63% of the company. His recent activity highlights a strategic shift in his role with WiseTech Global following his resignation as CEO. White stepped down amidst controversies and personal challenges but has been retained under a decade-long consultancy contract with the organization.
In a related development, White has expanded his stake in WiseTech Global by acquiring shares from co-founder and former director Maree Isaac. Earlier this month, White finalized the purchase of Isaac’s 10.2 million shares, valued at over $1 billion. This deal involved an upfront payment of $285 million, with the remainder to be paid in quarterly installments over the next seven years.
These moves demonstrate White’s continued involvement and influence within the company, despite stepping back from executive duties. WiseTech Global (ASX:WTC), a prominent player in logistics and software technology, continues to experience strong market activity and investor attention. White’s recent decisions underline his strategic vision for the company, reinforcing his commitment to its future.
The developments come at a pivotal time for WiseTech Global, underscoring White’s ongoing influence even as his role evolves. The company’s performance and shareholder dynamics remain closely watched, especially given the leadership transitions and White’s strategic realignment of his holdings.
