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Great Portland Share Price Surges 11% on $100mln Investment

Practice Stock Trading
Updated: 28 September 2020

Shares of Great Portland Estates PLC (LON: GPOR) soared over 11% on Monday after it was revealed that KKR & Co, a major hedge fund, acquired a 5.35% stake for 74.3 million pounds ($94.7 million).

Great Portland, which is focused on renting office buildings in central London, has seen its value crash by nearly 50% during the pandemic-related selloff. Shares have struggled to recover in the meantime, hitting fresh 6-month lows last week.

The KKR investment values the company at around 1.5 billion pounds. The US-based hedge fund becomes the sixth-largest shareholder. KKR is estimated to have over $150 billion worth of assets under its management.

Great Portland stock price gained 11% on a major investment September 2020

Greater Portnald share price is up over 11% in the green today to trade at 615p. The buyers are now likely to target August highs at 623p.