Various directors and members of the card seller’s senior management team are selling, in aggregate, 7.4mln shares, representing around 2.2% of the Card Factory shares in issue.
The shares will be placed with institutional investors.
If the placing goes ahead, the sellers would still control 16.6% of the company’s shares, with chief executive officer Richard Hayes holding 3.8%, and chief financial officer Darren Bryant controlling 1.9%.
The sellers have agreed not to offload any more Card Factory shares for at least another three months.
Card Factory came to the market just over a year ago, with the shares floated at 225p. At last night’s close, the mid-market price of the shares was 359.5p.