Seeking Alpha

Sellers in the 25M share secondary of Michael Kors (KORS) include some of its biggest holders,...

Sellers in the 25M share secondary of Michael Kors (KORS) include some of its biggest holders, who are apparently looking to cash in from the stock's recent runup. Its biggest seller is Hong Kong private-equity firm Sportswear Holdings, who is selling around 20M shares and reducing its current 15.6% ownership stake to 5.8%. Michael Kors, the company's namesake and chief creative officer, will offer 3M shares, thus lowering his current 3.9% stake to 2.4%. Shares -2.3% AH.
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