Dollarama CEO Neil Rossy sold more than $82.1 million worth of shares in the Montreal retailer on Wednesday. This is the third such transaction in just over a year.
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The sales came at a price of more than $100 per share – very close to the new all-time high of $101.81 reached in December.
About 31% of the shares sold were in the name of the Rossy Foundation, while the remainder were held by holding companies controlled by Mr. Rossy and members of the Dollarama founding family.
“The stock sales were made by various companies affiliated with Neil Rossy for the purpose of financial diversification and to fund existing commitments to various charities,” Dollarama spokeswoman Lyla Radmanovich told the Journal on Wednesday.
Neil Rossy retains a stake of more than $600 million in the company.
Two more transactions
Recall that the Rossys sold a block of Dollarama shares worth $150 million in December 2022 and another block worth $150 million in July 2023.
The market value of the group, which operates more than 1,500 stores, is now almost $30 billion.
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