Link Administration (ASX:LNK) has announced the sale of its shareholding in PEXA Group (ASX:PXA) for about 10% of its existing 43% shareholding in the Group.

The sale represents about 4.3% of the issued capital in PEXA, at $13.50 per share.

The financial technology company says it will use the proceeds of the selldown to repay borrowings, and execute its strategic plan.

Link says it?s proud of the performance of PEXA since its initial investment in 2011 and its success as Australia?s leading Electronic Lodgement Network Operator.