Chairman of B&M Value Retail, a discount home and groceries retailer founded in Blackpool in 1976. When the Arora family bought it in 2004 it had 20 stores. Today it has around 370 including about 50 in
Market capitalisation on launch - pounds 2.7bn
Sales - pounds 1.27bn
Profits - pounds 130m
Two of retail's biggest names roared back on to the stock market yesterday as former Tesco chief executive Sir
Leahy is chairman of B&M Value Retail which debuted on the
The three Arora brothers, who built the company into a 350-store chain, and their private equity backers, Clayton, Dubilier & Rice, shared a pounds 1bn payout as the retailer launched at a share price of 270p, towards the upper end of a mooted 230p to 290p range.
Leahy's share in that bonanza and the stake he holds in the listed business was not revealed in the company's prospectus, which was issued via the
The document said Leahy did have an interest in the company but it was held via a
Leahy's return to the stock market pits him against his former colleague,
Leahy has said he is disappointed by performance at Tesco, which has been hit since his departure by falling sales, and profit warnings in the face of competition from discount retailers including B&M and
Shelton's 22% stake, bought only last month, was worth pounds 75m at the company's 226p launch price, which valued the company at pounds 340.5m.
Green, who has not held stock in the public markets since he was ousted from discount retailer
Green, who said he was happy to play a backseat role as a shareholder rather than joining the company's board, also said he liked the fact that the founding family investors were retaining an interest in MySale after the flotation.
At B&M, brothers
They each hold a 14% stake in the business as part of a total 30% family stake. The business is retaining pounds 75m of the new money raised to invest in expanding in the
Shares in B&M rose more than 6% to 287p on the first day of trading as investors were eager to get a stake in the fast-growing discount sector, even though B&M's rival
Analysts said the successful flotations of B&M and Mysale showed that the market enthusiasm for retail initial public offerings had not faded.
There had been fears that the market was drying up after clothing chain Fat Face recently abandoned plans for an IPO while video game seller
However Espirito Santo analyst Tony Shiret warned that investors might be paying too much for discount retailers just as shoppers were getting more money to spend.
Market capitalisation on launch pounds 340.5m
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