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Shares in online fashion retailer Asos stay weak after slumping more than 5% yesterday after investor ditched holdings

Updated: 07:37 EDT, 11 September 2015

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Shares in online fashion retailer Asos slumped more than 5 per cent yesterday after an institutional investor ditched some holdings.

It came after founder Nick Robertson quit after 15 years to become a non-executive director and handed the reins to chief operating officer Nick Beighton.

Asos is recovering after profit warnings last year.

The shares fell 155p to 2,622p yesterday. Shares representing just over 3 per cent were placed in the market by UBS at 2,673p each.

In early trade today, the stock was down another 8p at 2,614p.

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