B&M tumbles after SSA Investments sells 27.8m shares in placing
B&M European Value Retail S.A. (DI)
349.80p
15:45 22/11/24
3.19%
10.80p
B&M European Value Retail tumbled on Wednesday after SSA investments sold 27.8m shares in the discount retailer in a placing.
FTSE 100
8,260.10
15:45 22/11/24
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FTSE 350
4,551.10
15:45 22/11/24
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FTSE All-Share
4,506.61
15:45 22/11/24
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General Retailers
4,652.31
15:39 22/11/24
1.07%
49.12
The shares were priced at 582.5p each - a 3% discount to the closing share price on Tuesday - raising aggregate gross sale proceeds of £162.1m.
The shares were sold via Goldman Sachs International and Rothschild and represent about 2.8% of B&M’s issued share capital.
After the sale, SSA will still hold around 3.4% of B&M’s ordinary shares.
At 1235 GMT, the shares were down 6.4% at 562p.