At the end of May, Upsales founder Daniel Wikberg sold shares for SEK 140 million. Wikberg then entered into a lock-up agreement not to sell any more shares in Upsales until 24 November.
Despite this, Wikberg sold his entire holding of 1.8 million shares on Monday evening, 26 October, after approval from DNB Carnegie,
at a price of SEK 25.92 per share. This was a 10 percent discount to the closing price of SEK 28.80, Affärsvärlden writes in a commentary on Tuesday.
Affärsvärlden criticizes what a lock-up agreement is really worth when it is so easy for a major shareholder to obtain permission to breach the agreement.
