Salt Lake Tribune
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Governor sells family-business stock
This is an archived article that was published on sltrib.com in 2005, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Gov. Jon Huntsman Jr. has sold his shares of the formerly family owned Huntsman Chemical Corp. Coy about his profit Monday, the governor acknowledged in an interview that he has divested from the family business, selling his 1 percent of company shares for between $15 million and $25 million. Huntsman managers opened the company to investors in an initial public offering of 65 million shares Feb. 5. After a three-week "holding" period passed, the governor said his shares were sold at the asking price of $23 a share. One percent of the company's stock would total about 600,000 shares, worth about $13.8 million. The governor said he never expected to benefit from selling the company his father built. "Nobody [in the family] could have told you two or three years ago what would happen. I wasn't much prepared for this," he said, noting that he doesn't have his own car or a second home. "I didn't live my life thinking I would sell a part of a business." Huntsman plans to put the money in a blind trust, using some of the money to finance his five teenagers' college educations. -Rebecca Walsh

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