Aristocrat Leisure confirms large share sale ARISTOCRAT Leisure has confirmed a major shareholder has sold a substantial number of the slot machine maker's shares, with the transaction likely underpinned by a fund manager re-balancing its investment portfolio. "We understand a substantial shareholder has sold due to mandate requirements," a spokeswoman said today. Three large parcels of Aristocrat shares worth about $103.1 million changed hands late yesterday at $2.30 each, a discount to their most recent trade of $2.37 and accounting for about 8.4 per cent of the company's shares on issue. The Sydney-based group has a number of fund managers on its register, including IOOF Holdings with an 8.6 per cent stake, Maple Brown Abbott with 8.8 per cent and Commonwealth Bank of Australia with about 23 per cent. A change of substantial shareholder notice indicating the identity of the seller should appear publicly on the Australian Securities Exchange within days.