Sainsbury's Shares Dip After Qatar Cuts Stake Again
Shares in British supermarket group Sainsbury's were down 4% on Wednesday after Qatar's sovereign wealth fund moved to offload a further chunk of its stake, ending its near two-decade reign as the largest shareholder.
The Qatar Investment Authority said late on Tuesday it planned to sell up to 83.6 million shares in the grocer through a placing to institutional investors, reducing its stake to 6.82% from 10.48%, according to LSEG data.
With the placing priced at 317.6 pence a share, QIA would raise 265.5 million pounds ($352 million)...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.