AFG founders sell down

John Kavanagh
AFG founders and directors Brett McKeon and Malcolm Watkins have sold significant proportions of their holdings in the mortgage aggregator.

AFG announced yesterday that entities associated with McKeon sold six million shares and entities associated with Watkins sold five million shares. The 11 million shares sold represent a 5.1 per cent holding in the company.

They remain substantial shareholders, with more than 30 million shares between them.

The company said the sales were conducted "to assist both directors to diversify their portfolios and is the first meaningful sell-down conducted by either of them since the initial public offering of AFG in 2015."