Michael Kors’s Biggest Shareholder to Sell Entire Stake

http://www.bloomberg.com/news/2014-09-04/michael-kors-investor-to-sell-stake-through-secondary-offering.html

This article is about Michael Kors Holdings Ltd., a maker of designer clothing and handbags, will hold a secondary offering to let the company’s biggest shareholder sell a stake valued at about $890 million. JPMorgan Chase & Co. will be managing the sale. The 11.6 million shares — priced at $76.75 apiece in the offering — represent the entire investment of Sportswear Holdings Ltd., a founding shareholder in the company that owned a 5.7 percent stake.

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