Norges Bank, which is Norway’s central bank, has now become one of the largest shareholders of British apparel e-tailer Boohoo.
The fashion e-tailer has, reportedly, witnessed Norges Bank acquire a stake worth 3.1 per cent in it. This was confirmed in documents filed with the London Stock Exchange.
Following the acquisition, Norges Bank ends up becoming the fifth largest institutional investor in the UK-based fashion bigwig.
In fact, along with Franklin Templeton Institutional and Artisan Partners, Norges Bank is now one of the largest shareholders in Boohoo. Mahmud Kamani, who is the Co-founder of the fashion e-tailer, is still the largest shareholder in the firm.
Boohoo Group had witnessed a 20 per cent year-on-year (Y-o-Y) surge in sales to £975.9 million, with the revenue going up by as much as 73 per cent, when compared to 2019. Its EBITDA rose by 40 per cent when compared to pre-pandemic numbers.
The Group, which owns PrettyLittleThing and Nasty Gal, amongst others, generates revenue of US $ 856.9 million.