Friday September 18, 2020

Trillion-dollar Capital Group continues dump of Irish stocks

Fund trims stake in Providence Resources by €900,000 on back of Ryanair sell-off last year

Barry J Whyte

Chief Feature Writer

@whytebarry
24th March, 2019

One of the world’s biggest mutual funds, the Capital Group, has continued its wind-down of its stakes in Irish listed companies, recently selling off large stakes in Ryanair, Providence and Paddy Power.

Last week, the company offloaded €900,000 worth of Irish oil exploration firm Providence Resources. The company reduced its stake from 4.975 per cent to 3.97 per cent, trimming its stake from nearly €4.5 million to just over €3.6 million earlier this month.

It...

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