// Asos bosses expect large payouts as retailer fundraises £247m
// Shares have risen to £50.66, increasing the value to £2.15m
// Chair Adam Crozier and CEO Nick Beighton are sitting on a combined paper profit of £1.5m
Asos executives are reportedly expecting big paychecks as the online retailer fundraises cash that excludes retail investors.
The business raised £247 million in a placing in April at £15.60 a share and directors and senior managers took up 42,537 shares, worth £663,577, The Sunday Times reported.
The shares have since risen to £50.66, increasing the value to £2.15 million.
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It means chairman Adam Crozier the chief executive Nick Beighton are sitting on a combined paper profit of £1.5 million.
Meanwhile, non-participating investors have seen their stakes diluted by almost a fifth.
Asos directors who bought shares have seen their stakes rise while retail shareholders’ pre-emption rights were overridden.
Separately, the retailer pledged last month that UK suppliers would be the “initial focus area” after Leicester became the centre of a scandal.
It revealed new commitments for its third-party brands after Boohoo’s Leicester scandal ravaged the fashion retail sector.
The fashion ecommerce asked brands to sign the Transparency Pledge, which will require them to publicly and regularly declare their manufacturing supply chain.