UBS Warburg has sold €105m ($93m) of shares in Thiel Logistik, the Neuer Markt listed-IT and logistics company, on behalf of Lorenzo Holding, a Luxembourg-based investment firm which is one of Thiel's biggest shareholders.

Thiel welcomed the sale by Lorenzo because it has increased Thiel's free float to 57.1% from 46.9%, just ahead of a restructuring of the Nemax 50 index. Under the new index rules companies will be weighted according to a combination of free float and market capitalisation, instead of just market cap.