Business Irish

Sunday 19 November 2017

Fidelity now holds 8.01pc stake in Bank of Ireland

Colm Kelpie

Colm Kelpie

A US multinational investment company now holds an 8.01pc stake in Bank of Ireland after buying up about €36m worth of shares.

Fidelity Management and Research already had a significant shareholding in the bailed-out lender at 7pc, but boosted it in recent days with the massive purchase, according to the bank.

The finance giant had an even higher stake at the end of last year with 9.26pc, before falling.

At the close of business yesterday, Bank of Ireland was valued at €3.6bn, meaning the 1pc increase in share capital was worth about €36m.

Shares in Bank of Ireland rose in late trading yesterday following the announcement to the Irish Stock Exchange. Shares ended the session up 3.4pc at 11.9 cent each having traded flat earlier in the day.

Fidelity established its presence in Ireland in 1996, and employs almost 500 technology and operations professionals at offices in Galway and Dublin.

The company is one of the world's largest providers of financial services, with assets under administration of $3.8 trillion, including managed assets of $1.7 trillion, as of September 30.

Founded in 1946, the firm is a leading provider of financial products and services.

Irish Independent

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