Norway's central bank becomes second largest investor in Boohoo
Norway’s central bank, Norges Bank, has almost tripled its stake in the online fashion giant Boohoo Group, becoming its second largest investor.
Norges Bank increased its stake in the Manchester-headquartered company from 4.2% to 11.7%, according to documents published on the London Stock Exchange. The bank is now the largest institutional shareholder in Boohoo, overtaking T. Rowe Price International which has a 11.24% stake.
The increase in investment comes after the bank first acquired a 3.1% holding in the business in December 2021.
Boohoo Co-Founder Mahmud Kamani remains the largest single shareholder with a stake of almost 12.5%.
Last week, Boohoo suspended its online sales in Russia and closed its local website, stating that sales in Russia made up less than 0.1% of its group revenues. A spokesperson told Reuters that Boohoo did not serve the Ukraine market.
