Moneysupermarket.com co-founder Simon Nixon makes £170m after selling stake

Simon Nixon stands to make about £100m from the flotation

The co-founder of a Flintshire based price comparison website has made £170m after selling a 15% stake in the company.

Simon Nixon will remain a major shareholder at Moneysupermarket.com and keep a seat on the board.

He co-created the Ewloe-based site with Duncan Cameron in 1999.

Mr Nixon is selling 80 million shares in the first major disposal of his stock since the website floated in 2007.

It is the latest boost in the personal wealth of the entrepreneur, who studied at St Richard Gwyn School in Flint.

He turned financial adviser and banked a £103m fortune when the business went public.

The 45-year-old launched the website in 1999 following the success of an earlier mortgage sourcing company.

Moneysupermarket co-founder Mr Cameron sold his stake in the business in 2007 for £162m ahead of the flotation.

Mr Nixon will now adopt a backseat role, after stepping down as chief executive in 2008 and in April moving from executive deputy chairman to a non-executive position.

Following Wednesday's sale, arranged by Credit Suisse and Citigroup, Mr Nixon will be subject to a nine-month "lock-up" during which he will be unable to sell any of his remaining shares in the company.

Chairman Gerald Corbett said: "Simon remains a major shareholder and will continue to play a key role on the board."