Ken Griffin’s Citadel has slashed its holding in UK fashion retailer Boohoo from 8.9% to just 1.8% after shares in the business fell from 62p at the time of the hedge fund’s initial investment, to just 34p, according to a report by BusinessLive.
Ken Griffin’s Citadel has slashed its holding in UK fashion retailer Boohoo from 8.9% to just 1.8% after shares in the business fell from 62p at the time of the hedge fund’s initial investment, to just 34p, according to a report by BusinessLive.
The report cites a recent regulatory filing with the London Stock Exchange as revealing Citadel’s move, which comes as Frasers Group, the fashion retailer owned by former Newcastle United owner and Sports Direct boss Mike Ashley, has acquired a 5% stake in the business.
Manchester-based Boohoo’s shares have fallen by almost 50% in value over the last 12 months and are down by more than 3% so far in 2023, giving the company a current market capitalisation of around £433 million.
