JD Sports slumps after Pentland stake sale
JD Sports was under the cosh on Wednesday following reports that its largest shareholder, Pentland Group, had sold off a stake in the sportswear retailer.
FTSE 100
8,251.71
16:29 10/01/25
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FTSE 350
4,523.16
16:30 10/01/25
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FTSE All-Share
4,478.21
16:30 10/01/25
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General Retailers
4,733.00
16:29 10/01/25
-1.24%
-59.65
JD Sports Fashion
96.68p
16:30 10/01/25
-2.99%
-2.98p
Pentland was said to have sold around 24 million shares in a placing, at 740p each.
At 1320 GMT, JD shares were down 10% at 724.80p.
CMC Markets analyst Michael Hewson said: "Despite the sale Pentland still remains a majority shareholder in the business owning 55% of the share capital, and the shares are still up over 100% year to date, which doesn’t seem too bad a return."