The biggest shareholder in Sainsbury’s, the Qatar Investment Authority (QIA), is selling 306 million pounds ($399 million) worth of shares in the British supermarket group, according to regulatory filings.
Shares in Sainsbury’s were down nearly 5% in early trading Friday.
The filings show QIA offered 109.4 million shares at a price of 280 pence, about 5% of its holding.
Prior to the offer, QIA had a 14.2% stake in…
