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Last Updated: Tuesday, 27 February 2007, 08:18 GMT
Sports Direct founder earns 929m
Sports Direct has become one of the UK's largest sports retailers
The founder of Sports Direct has earned himself about 929m after the retailer said it had priced its share flotation at the top end of its price range.

Sports Direct, started by Mike Ashley in 1982 from one shop, now has a market value of close to 2.2bn.

It runs the Sports World retail chain and Lillywhites, and its brands include Dunlop, Kangol and Karrimor.

Sports Direct said it had sold shares at 300 pence each and the flotation was almost three times oversubscribed.

Sports Direct's shares will start trading on the London Stock Exchange on 2 March.

The company had set the sale range for its share price between 250p to 310p.

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