Norway's central bank becomes fifth largest investor in Boohoo

The central bank of Norway, Norges Bank, has acquired a stake worth 3.1% in fast fashion company Boohoo, as confirmed by documents on the London Stock Exchange.

Norges Bank is now the fifth largest institutional investor in Boohoo following the acquisition, with co-founder Mahmud Kamani remaining the largest single shareholder.

Boohoo Group's share price increased last month following the release of a statement stating that it is “close to settlement” regarding a Class Action Claim that was filed in a US court last year.