Grenke’s shareholder Jupiter Fund Management PLC is further reducing its stake in the leasing and factoring company from Baden-Baden – the company had recently come under massive pressure, allegations of nepotism and fraud were loud. If the fund company initially bought shares in the subsequent fall in the price of the Grenke share and increased the stake from 5.004 percent to 5.67 percent, we reported, the fund company is now clearly on the seller side at Grenke.
Most recently, Grenke had already reported via voting rights notification that Jupiter had reduced its stake from 5.67 percent to just 3.91 percent as of September 17. Since then it has continued to decline: over 3.18 percent on September 18 to 2.76 percent on September 22. The fund has now slipped below the 3 percent reporting threshold and held only 1,283,430 Grenke shares as of September 22nd, compared with 2,637,655 Grenke shares as of September 16. It is currently not known whether Jupiter has made any further sales since then.
At a glance – chart and news: Grenke AG