Norges Bank becomes second largest investor in Boohoo
The central bank of Norway has become the largest institutional shareholder in fast fashion giant Boohoo.
Norges Bank has almost tripled its stake in the Manchester-headquartered company from 4.2% to 11.7%, according to documents filed with the London Stock Exchange.
The move comes after the bank first acquired a 3.1% 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% stake.
Other major investors include Invesco Advisers, Jupiter Asset Management and Franklin Templeton Institutional. Co-founder Mahmud Kamani is the largest single shareholder with a stake of almost 12.5%.
Boohoo’s share price has dropped significantly over recent months from a high of 282p in August 2021 down to 72p today as of March 3rd.