Office Space News
Regus CEO Sells 35 Million Shares of Stock
Published September 15th, 2009 by Jennifer LeClaire
This just in… Regus CEO Mark Dixon is selling 35 million shares of his stock in an accelerated bookbuild offering to institutional investors. Goldman Sachs is handling the deal, which will cut Dixon’s shares of the company from 38 percent to 34 percent.
News reports speculate that demand for Regus stock after the company’s interim results drove the decision. Regus posted profits of GPB 54.4 million in the first half of the year. Dixon seems to be cashing out at a strategic time.
“Very simply, there’s been a lot of demand for the shares over the past couple of weeks and I decided to sell a small part of the stake to put a bit of money in the bank,” Dixon told The Financial Times. Dixon founded the company 20 years ago in Brussels, Belgium and it just recently opened its 1000th location in Mauritius.
Regus Group is the global market leader in outsourced office space, meeting rooms, conference and training facilities, virtual offices and public access videoconferencing studios. The company, which operates more than 1,000 centers in 75 countries, serves some 500,000 business people daily.
Dixon is one of Europe’s best-known entrepreneurs. He dropped out of high school at age 16 to open a sandwich delivery business in 1988 and opened the doors to Regus in 1989. Recipient of several awards for enterprise, Dixon has revolutionized the way business approaches its property needs with his vision of the future of work.
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About the Author
Elizabeth Sanchez September 15th, 2009 at 10:36 am
Wow. Dixon is cashing out and cashing in, heh? Well, he deserves it. He’s the founder. He’s the CEO. He’s one of the guys who started the serviced office space revolution. I’m glad to see him get some rewards. That should be an inspiration to entrepreneurs everywhere!
Marcus Hester September 15th, 2009 at 1:25 pm
Woah… how much did he actually get out of this deal? I think it’s great that Dixon is cashing out, yet still maintaining a large share of the company. I bet he’s going to Hawaii. Who knows? Maybe he will open some new Regus serviced office centers in a tropical isle.
Jeff September 21st, 2009 at 2:58 pm
Regus stock is measured in pence sterling (GBX), so 107 (GBX) = 1.75 (USD), therefore 35 million shares is “only” worth $61,250,000 which would value the company at $1.53 Billion
Peter August 1st, 2011 at 12:39 pm
This company going down very soon, Regus staff not responding to their job, some of them that dumb to offer services to customers, over billing also one of the biggest issue with this company