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Norwegian bank takes 3% stake in SJP

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpgNorway’s central bank Norges Bank now holds a 3.1 per cent stake in St James’s Place after the completion of a transaction deal last Friday.

As part of its transaction with SJP, Norges Bank’s total number of voting rights will be 529,080,404.

SJP posted record gross inflows of £14.6bn in year-end results released last month, with shares closing at 2.1 per cent yesterday at a price of 1,117.50 each.

SJP director pay increases 20% year-on-year

The Oslo-based bank recently lowered its inflation target to 2 per cent after struggling to meet 2.5 per cent, with policy holders also announcing a rate hike is expected second half of the year.

SJP did not comment on the transaction when approached by Money Marketing.

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