Bebe founder and chairman Manny Mashouf plans to sell his 59 percent stake in the company.

The women’s retailer filed a secondary shares shelf registration with the Securities and Exchange Commission. The filing to sell 46.9 million shares, or a 59 percent stake in Bebe, would occur over time, the filing said.

Bebe would not be selling any shares, nor would it receive any proceeds from the sale of Mashouf’s stake.