Marks Electrical Group PLC - Leicester, England-based electrical products retailer - Frasers Group PLC has raised its stake to 10.47% from 8.08%, according to a regulatory disclosure. Frasers now owns approximately 11.0 million Marks shares as of Friday.
Frasers, the Shirebrook, England-based owner of the House of Fraser, Sports Direct and Flannels retail chain and its majority owner Mike Ashley are known for collecting stakes in other UK retailers. These have tended to be clothing and fashion retailers, including stakes in both boohoo Group PLC and Asos PLC, which are online fast-fashion rivals, and in handbag maker Mulberry Group PLC. However, in 2023, Fraser also bought a sizeable stake in online appliances retailer AO World PLC and electronics retailer Currys PLC.
Marks Electrical Group stock price: 55.30 pence, down 1.3% in London on Monday for £58.0 million market capitalisation
12-month change: down 22%
Frasers stock price: 632.50 pence, up 1.5% on Monday for a market cap of £2.84 billion
12-month change: down 20%
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