Per AFR:

Listed billing software business Hansen Technologies’ managing director and heir Andrew Hansen was out shopping a $37.8 million slice in the company after market close on Tuesday.

Hansen mandated stockbroker Henslow to sell 7 million shares held by the family at $5.40 apiece or a 1.3 per cent discount to the last traded price. Bids into block trade were due 6pm, with allocations expected to be done be 6:30pm.

Street Talk understands a couple of domestic and overseas fund managers lapped up the stock. Sources said the family had tried to sell on Monday evening via another broker but failed to get it away.

It comes five days after Hansen posted a 5.2 per cent increase in operating revenue to $311.8 million for the 2023 financial year and a marginal 2.1 per cent increase in after-tax profit to $42.8 million.

The company was founded by Ken Hansen in 1971 and has been led by his son Andrew Hansen, who recently shed the CEO title but retained the managing director role.

The younger Hansen owned 17.48 per cent of the company’s shares on issue via his entity Othonna Pty Ltd before Tuesday evening’s trade. A change in substantial shareholding notice should be on its way to the ASX.