Soros boosts Lehman stake to 9.5 mln shares

Analysis

Hungarian-born billionaire investor George Soros hiked his stake in Wall Street firm Lehman Brothers to 9.5 million shares as of June 30 from 10,000 shares, according to a US regulatory filing.

Soros disclosed the quarter-over-quarter increase in a filing with the Securities and Exchange Commission.

Soros raised his stake in Lehman ahead of a turbulent month for the investment bank, whose shares plunged in mid-July amid a broader sell-off in financials sparked by concern about government-backed mortgage companies Fannie Mae and Freddie Mac.

Lehman shares rose 63 cents, or 4.1%, to close at $16.20 before the news. They are down 18% since the end of June and off 75% so far this year.

A Lehman Brothers spokesman declined to comment. Officials at Soros' fund could not immediately be reached.

Based on Lehman's share count in its most recent quarterly filing, the 9.5 million shares would be equivalent to a 1.4% stake. (Reuters)

ADVERTISEMENT

Slovenia consumer morale down in November Analysis

Slovenia consumer morale down in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.