Dollarama’s founding Rossy family selling 2.2 million shares in retailer

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MONTREAL – Dollarama Inc. says the Rossy household, which based the corporate, is promoting a complete of two.2 million shares within the low cost retailer.

The corporate says GRI Investments Inc., a non-public company managed by the Rossy household, the Rossy Basis and chief government Neil Rossy are promoting 618,369, 1,205,066 and 376,565 Dollarama shares respectively in block trades to a monetary establishment.

Dollarama says the sale by the Rossy Basis shall be used to fund its commitments to charitable organizations, whereas the gross sales by GRI Investments and Neil Rossy had been made for monetary diversification functions.

As soon as the trades are settled, Dollarama says GRI Investments, the Rossy Basis and Neil Rossy will nonetheless maintain a complete of practically 13.1 million shares within the firm for a 4.2 per cent stake.

After falling together with the remainder of the inventory market within the early days of the pandemic, shares in Dollarama have recovered and have been buying and selling close to their 52-week excessive in latest days.

Final week, the corporate reported a revenue of $564.3 million or $1.81 per diluted share on gross sales of $4.03 billion in its newest monetary 12 months, up from $564 million or $1.78 per diluted share on $3.79 billion in gross sales the earlier 12 months.

This report by The Canadian Press was first printed April 8, 2021.

Corporations on this story: (TSX:DOL)


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