Righmove chairman Scott Forbes has raised over £4m by selling shares.

Altogether he sold 100,000 ordinary shares at an average price of £42.64 each, netting him £4.26m.

Forbes still has a holding of 219,300 shares in Rightmove, representing 0.237% of all shares in issue.

Forbes has been chairman of Rightmove since July 2005.

In 2014 he raised £7m by selling some of his shares in the company. The price he raised then per share was £23.50 each.

Forbes’ timing of his latest sale this week looked spot on: yesterday the shares closed at £42.11.