LeapRate Exclusive… LeapRate has learned via a series of regulatory filings that global investment bank Goldman Sachs Group Inc (NYSE:GS) has reversed course and has increased its stake in UK online trading firm CMC Markets Plc (LON:CMCX).
Goldman Sachs has for a long time been the #2 shareholder in CMC Markets, holding the second largest stake in CMC Markets after founder Peter Cruddas’ controlling interest in the company. Prior to CMC Markets’ IPO earlier this year, Goldman Sachs held a 9% interest in CMC. Cruddas and his wife Fiona owned about 89%.
As part of the IPO Goldman Sachs sold down to a 5% stake, and remained there until apparently the end of last week, when Goldman bought about 2.2 million additional CMC shares in the open market for about £5.5 million (USD $7.9 million). The new shares brought Goldman’s total stake in CMC to 16.61 million shares, or a 5.77% interest.
CMC shares have fared fairly well since the company’s IPO in February, up about 6%.
Will Goldman keep buying? Stay tuned to LeapRate.