Allianz Global Investors cuts stake in IG Group to just below 5%


UK-based spreadbetting and CFD broker IG Group Holdings plc (LON:IGG) has announced that one more transaction with its shares has taken place.

On July 14, 2015, Allianz Global Investors GmbH sold 155,099 shares in the broker, reducing its holding to 18,303,673 shares, or 4.99% of the voting rights.

The transaction was executed only a week after the Germany-based investment manager had made the opposite move and hiked its stake in IG to 5.09% via a purchase of 417,300 shares.

Shares in IG surged to a record-high level this morning, with one share in the broker trading at £8.10. This way, the market valuation of the company topped $4.5 billion.

iggroup_inside_jul10

Chart source: Google Finance.

To view the official filing about the latest transaction with IG shares, click here.

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Allianz Global Investors cuts stake in IG Group to just below 5%

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