A reduced short bet on Metro Bank Holdings Plc is all that remains of the bearish wagers by Odey Asset Management, which once attracted headlines for its founder Crispin Odey’s bold positions on declining UK stocks.
Odey Asset Management’s short positions in Intermediate Capital Group Plc and Tritax Big Box REIT Plc have disappeared from the UK Financial Conduct Authority’s public register in the wake of a crisis at the London-based investment firm, which is in the process of hiving off its funds and employees.
Its short interest in Metro Bank was 2.09% as of Wednesday, down from 3.12% at the end of March and more than 4% at the end of last year, according to the FCA’s records. Short positions worth more than 0.5% of a firm’s shares appear on the register.
Metro Bank’s shares have climbed almost a fifth since June 8, when a Financial Times investigation prompted OAM to oust Odey from the partnership, shutter one fund and suspend multiple others as investors rushed to withdraw their money.
A spokesman for OAM declined to comment. A representative for Metro Bank declined to comment.
OAM has also begun offloading its position in Brazil’s largest farming company, SLC Agricola SA, Bloomberg reported last week. Online trading company Plus500 Ltd., meanwhile, bought a £101.3 million ($130 million) stake in itself from OAM.
--With assistance from Nishant Kumar.
