Ralph Lauren, the founder, chairman and chief executive of Polo Ralph Lauren, is poised to sell off a quarter of his shares in the company, which could net him $900m (£612m), according to reports.
Lauren is set to sell 9 million shares via a secondary public offering and an additional one million shares to the Polo Ralph Lauren.
It is understood that a sale of this proportion would only dilute Lauren’s control of the voting stock by 1.6% to about 93.5%.
Lauren’s role as chairman and chief executive is not expected to be affected by the offering.
Lauren and his family would retain a total combined voting power of 80.1% following the shares sale.
The joint bookrunners on the offering will be J.P. Morgan and Goldman Sachs. Deutsche Bank Securities and UBS Investment Bank will serve as co-managers.