About 40 million shares in B&M are set to be sold by the family investment vehicle of the Arora family.
SSA Investments is to sell the shares by way of an accelerated bookbuild to institutional investors, it has been announced.
The placing shares represent approximately 4% of B&M's issued share capital.
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The seller, which is controlled by Simon and Bobby Arora, B&M's CEO and trading director respectively, currently owns directly and indirectly 109.9 million ordinary shares, representing approximately 11% of the list firm's issued share capital.
Following the completion of the placing, assuming all of the placing shares are sold, the seller will own 69.9 million shares, a stake of about 7%.
Goldman Sachs International is acting as sole bookrunner in connection with the placing. N. M. Rothschild & Sons Limited is acting as the sole financial adviser to the seller on the placing.
B&M will not receive any proceeds from the placing.
