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B&M shares drop 6% as Arora Family sells £162m stake

Shares in B&M European Value Retail (LSE: BEM), the FTSE 100 variety goods retailer, dropped 6% to 564.00p by 14:00 GMT on Wednesday after the company’s largest shareholder, the Arora family’s investment vehicle SSA Investments, …

Shares in B&M European Value Retail (LSE: BEM), the FTSE 100 variety goods retailer, dropped 6% to 564.00p by 14:00 GMT on Wednesday after the company’s largest shareholder, the Arora family’s investment vehicle SSA Investments, sold a £162 million stake.

SSA offloaded 27.8 million B&M shares at 582.50p each, representing 2.8% of the company’s total share capital. The sale reduces SSA’s holding in B&M to around 3.4%. However, the stake of Trading Director Bobby Arora remains unchanged, as the shares sold were held for the benefit of other Arora family members.

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Despite the intraday drop, B&M’s stock price has still climbed 37% over the past year. B&M has performed well in 2023 so far, with shares up 32% year-to-date ahead of Wednesday’s fall.

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