According to a regulatory filing, the Children’s Investment Master Fund owns a 5.8% stake in the company, which floated just over a week ago and sparked a frenzied round of bidding.
Hohn’s hedge fund, which was set up in 2003, is well-known for forcing change within the companies it invests in. It called for the resignation of Deutsche Borse’s chief executive officer when he refused to back down over a bid for the London Stock Exchange, and after acquiring 1% of ABN Amro shares, the hedge fund pushed for a break up of the bank.
From the filing to the London Stock Exchange it is not clear when Hon’s fund initially bought into Royal Mail. At rotund 18 October – three days after its flotation returned it to private hands – Hohn’s fund holding increased from 4.9% to 5.8%.
Royal Mail came to market a buy-in price of 330p per share, however today it is trading at about 515.6p a share.
