The largest institutional investor in online electricals retailer AO has increased its stake for the second time in just over a month.
Camelot Capital Partners, which is headquartered in the US, now has a holding of 19.25% in the Bolton-headquartered company.
The move comes after the investor upped its stake from 17.21% to 18.80% in January.
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The increase has been confirmed in newly-filed documents with the London Stock Exchange.
The firm is AO's second largest shareholder, behind CEO and founder John Roberts.
Other major institutional investors include Odey Asset Management, Ruane, Cunniff & Goldfarb and Macquarie Investment Management Global.
AO suffered a turbulent 2021, posting eye-watering sales and profits figures but seeing millions wiped off its value as its share price continued to plunge since January.
A year ago, AO's shares were trading at 310.50p each but they are now at 95.50p.
The pandemic has had a dramatic impact on AO's finances, helping to drive its revenue by more than 60% to over £1.6bn during the 12 months to March 31, 2021, while its pre-tax profits surged by almost 2,000% to £20.2m.
