More than 11% ofshares are held by Hedge Funds shorting the company’s stock, according to the FCA’s short position disclosures.
Hedge Fund Titan Crispin Odey is among those betting on Metro Bank’s shares falling. Odey Asset Management have been short the challenger bank for quite some time, holding a 3.83% short position.
Other Hedge Funds with short positions include a 1.18% position by Polar Capital (£13.8 billion AUM) and a 1.89% short position by Marshall Wace ($39 billion AUM).
Metro Bank shares were trading lower on Monday morning after it has had to address rumours about its solvency.
Over the weekend, customers have been rushing into branches to withdraw money after social media rumours about the company’s financial health.
Shares have fallen more than 75% since January when it admitted an accounting error incorrectly classified a large number of commercial property and professional buy-to-let loans.
However on Monday the bank confirmed its plans to raise £350 million of equity capital to support its growth were “well advanced”.
Shares in Metro Bank were trading 4.08% lower at 511.74p by midday Monday.
Odey Asset Management also hold a 1% short position inand a 7.87% short position in .
Tlou's Managing Director, Mr Tony Gilby said “The Company will now progress with additional work on the ground to deliver a Gas-to-Power solution that can bring significant benefits to the country and to our shareholders. I look forward to updating the market as we continue to develop the project."
Tone Goh, Executive Chairman of GST, commented: "The Company is delighted to have signed this LOI with SIAM. SIAM are one of Thailand's leading business groups and we look forward to working with them to progress this planned data centre project.”
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