Discount retailer B&M European Value Retail was under the cosh on Friday after SSA Investments sold 40m shares in the company – a 4% stake – in a placing.
The shares were sold at 585p each, raising gross proceeds of £234m.
Following settlement of the placing, which is expected to take place on 18 January, SSA will hold a stake of around 7% in B&M.
Goldman Sachs acted as sole bookrunner in connection with the placing.
At 0805 GMT, the shares were down 3.6% at 575.20p.
