The firm sold the stake over the past six weeks at an average share price of £3.17.
It comes after Zoopla saw its shares rise by 57% in the past year.
The online property-showcasing service experienced a less than stellar beginning to its listing when share prices sank below the initial float price within the first six months. This was due to pressures mounted by rival service Onthemarket.com when it allowed customers to belong to either Rightmove or Zoopla, but not both.
Countrywide said it will use its newly acquired £29.2 million to “reduce corporate indebtedness and for other general corporate purpose.”
Speaking after the Brexit result, Countrywide chief executive Alison Platt mentioned the company had experienced “a slowdown in commercial transactions, but consultancy revenues remained stable.”
Earlier this week it was announced the online property portal agreed to partner up with Trussle, enabling buyers access to over 90 lenders and 11,000 mortgages in what is being called an ‘industry first’.
