Nine IPO may yield chief $25m
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Depending on the outcome of talks among Nine Entertainment Co's hedge fund owners about how much of Nine they will sell into an upcoming float, the company's chief executive David Gyngell could wind-up with over $25 million worth of shares, according to The Australian Financial Review.
Mr Gyngell is expected to hold a 1-2% stake in Nine, as company stock is expected to form a substantial part of his remuneration. It is expected he will be forced to hold the stake for three years after the listing.
At the peak range of the anticipated initial public offering price, Mr Gyngell's stake could be worth as much as $60 million, the AFR calculated.
“It's unequivocally positive if management have significant skin in the game,” Perpetual head of equities Matt Williams told the AFR.
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