LONDON (Reuters) – The most important shareholder in Sainsbury’s, the Qatar Funding Authority (QIA), is promoting 306 million kilos ($399 million) value of shares within the British grocery store group.
In accordance with regulatory filings, QIA supplied 109.4 million shares at a worth of 280 pence, about 5% of its holding.
Previous to the supply, QIA had a 14.2% stake in Sainsbury’s, in keeping with LSEG knowledge.
Shares in Sainsbury’s, which has an over 15% share of Britain’s grocery market, trailing solely Tesco (OTC:), have risen 12% during the last yr. They closed Thursday at 288 pence.
($1 = 0.7664 kilos)
