26th Sep 2019 17:56
(Alliance News) - IP Group PLC on Thursday said Woodford Investment Management Ltd has reduced its holding in the company to below 5%.
Prior to this transaction - which was completed on Wednesday - Woodford's holding was over 13%.
Troubled investment firm Woodford has cut stakes in a number of London-listed stocks in recent months after star fund manager Neil Woodford opted to suspend withdrawals in his equity fund.
Woodford Investment manages three funds: LF Woodford Income Focus Fund, LF Woodford Equity Income Fund and London-listed Woodford Patient Capital Trust.
Earlier in the day, IP Group said Railway Pension Trustee Co Ltd now has a 5.9% stake in the FTSE 250-listed technology investor following a transaction on Wednesday.
Prior to that, Railway Pension Trustee's holding, if any, was not reported.
IP Group shares closed 1.4% lower on Thursday in London at 58.20 pence each.
By Evelina Grecenko; [email protected]
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