Pets at Home PLC (LON:PETS) shares slumped after Canada Pension Plan Investment Board (CPPIB) sold its entire 10.8% stake in the pet supplies retailer.
The pension fund sold its holdings for 148p per share, a 9% discount to Thursday’s closing price.
Bank of America Merrill Lynch, which is acting as sole book runner, expects the sale to be completed on Tuesday.
In morning trading, shares in Pets at Home dropped 12.8% to 142.2p.