Parvus Asset Management has increased its shareholding in Ryanair Holdings PLC, the parent company of Ryanair, to over 7pc, according to a filing to the England’s Financial Conduct Authority.
The hedge fund reportedly spent nearly €230m last week to boost its stake in the budget carrier, bringing the total value of its stake in Ryanair to around €1.6bn.
The filing, dated March 7, shows that Parvus raised its shareholding from 6.047pc to 7.017pc, representing a significant increase in ownership.
Parvus has acquired its stake in Ryanair through seven equity swaps, enabling the fund to acquire shares at a leverage using the expiration dates ranging between June 3, 2024, and November 26, 2025, allowing them greater control over the company’s strategy.
