Dollarama CEO Neil Rossy sold more than $82.1 million worth of shares of the Montreal retailer on Wednesday. This is the third such transaction in just over a year.
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The sales were made 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 share sales were made by various entities linked to Neil Rossy for the purposes of financial diversification and to fund existing commitments to various charities,” said Wednesday at Newspaper a spokesperson for Dollarama, Lyla Radmanovich.
Neil Rossy retains a stake of more than $600 million in the company.
Two other transactions
Remember that the Rossys sold a $150 million block of Dollarama shares in December 2022 and another $150 million block in July 2023.
The market value of the group, which operates more than 1,500 stores, is now close to $30 billion.