Billionaire Microsoft co-founder Paul Allen sold 4.9 million of his DreamWorks Animation shares for $28 apiece, earning him $137.3 million, reports BLOOMBERG NEWS. Allen sold the shares under the over-allotment clause of the studio's IPO. After the sale, Allen holds 7.73 million DreamWorks class A shares.
DreamWorks spokesman Andrew Spahn declined to comment Thursday.
The American Stock Exchange (Amex) began trading DreamWorks Animation SKG Inc. Class A options on Nov. 5, 2004. The Pacific Exchange (PCX) will begin selling them on Nov. 8, 2004. For the PCX, DreamWorks Animation options will trade on the March expiration cycle with exercise limits set at 3,150,000 shares. This issue will be traded by Lead Market Makers Ross Goodheart, Ken Keating and Bartev Vartanian of Group One Trading, LP.