(Sharecast News) – B&M European Value Retail tumbled on Wednesday after SSA investments sold 27.8m shares in the discount retailer in a placing.
The shares were priced at 582.5p each, 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 0815 GMT, the shares were down 6% at 564.20p.
