In todays AFR:
Expect only the finest in Christmas presents this year from Anthony Scali, the founder and CEO of ASX-listed furniture retailer Nick Scali
Street Talk understands UBS has underwritten a sale of $50 million worth of shares on Scali’s behalf, in his first selldown in nearly five years
The parcel of 4.6 million shares represented 5.7 per cent of issued capital. The trade was underwritten at $11 – or a 5.3 per cent discount to last close
Scali last sold shares in the company in 2018 at $7 apiece. He would be still its largest investor with 8 per cent ownership
It comes after the company posted record revenue – $507.7 million, up 15.1 per cent – as well as after-tax profits – $101.1 million, up 34.9 per cent – for the 2023 financial year. Its shares have risen 24 per cent over the past 12 months, and the latest trading update showed a slowdown in orders but was better than consensus expectations
It listed at $1 a share for an $81 million market capitalisation in April 2004. The company was capitalised at $948 million on the ASX as of Wednesday’s close
DISC: Held in SM & RL
