// B&M boss sells 40 million shares in the company
// CEO Simon Arora sold the shares through his family office SSA Investments
// SSA manages the wealth of Arora and his brothers Bobby and Robin
B&M chief executive Simon Arora has sold 40 million shares in the retailer at a price of 585p — a 1.8% discount to Thursday’s closing price.
Arora has sold the shares through his family office SSA Investments.
SSA manages the wealth of Arora and his brothers Bobby and Robin.
READ MORE: Over 24,000 B&M workers to get bonus after bumper Christmas
Simon and Bobby bought the discounting chain in 2004.
The overnight share sale, arranged by Goldman Sachs, raised £234 million for the brothers.
The chunk represents 4% of the company’s outstanding stock and leaves the Aroras with 7% of B&M.
Shares dropped 19.2p, or 3.2%, to 577.4p today, leaving it near the bottom of the FTSE 100.
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