Norway's central bank 2nd largest investor in UK fashion firm Boohoo

17 Mar '22

1 min read

Pic: Shutterstock

Norway’s central bank has almost tripled its stake in UK online fashion company Boohoo, becoming the largest institutional shareholder in the fast fashion giant. Norges Bank has raised its share in the company from 4.2 per cent to 11.7 per cent, according to filings with the London Stock Exchange. The bank first acquired a 3.1 per cent holding in the business in December 2021.

Norges Bank is now the largest institutional shareholder in Boohoo, overtaking T. Rowe Price International, which has a 11.24 per cent stake, according to Uk media reports. Other major investors include Invesco Advisers, Jupiter Asset Management and Franklin Templeton Institutional.

Co-founder Mahmud Kamani remains the largest single shareholder with a stake of almost 12.5%.

Boohoo recently suspended its sales in Russia and closed its websites in that country following the invasion of Ukraine.

ALCHEMPro News Desk (DS)

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