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Birmingham Post
Birmingham Post
Business
Jon Robinson

Sizable Boohoo stake snapped up by Norway's central bank

The central bank of Norway has become one of the largest shareholders in fast fashion giant Boohoo.

Norges Bank has snapped up a stake worth about 3.1% in the Manchester-headquartered listed company.

The move has been confirmed in documents filed with the London Stock Exchange.

READ MORE: Investment giant becomes major AO shareholder after multi-million pound deal

Norges Bank's new holding in the company makes it one of the largest single shareholders in Boohoo, ahead of the likes of Franklin Templeton Institutional and Artisan Partners.

Co-founder Mahmud Kalmani remains the largest single shareholder with T. Rowe Price International in second.

Norges Bank is now the fifth largest institutional investor in Boohoo.

The news comes after Boohoo handed almost 1,400 of its employees shares in the company.

It also announced at the start of November that it was close to agreeing a settlement regarding a class action about misleading customers on pricing.

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