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Frasers Group ( (GB:FRAS) ) has issued an announcement.
Frasers Group PLC announced that MASH Beta Ltd, a company through which Mike Ashley holds shares, has pledged 103,572,688 Ordinary Shares, representing approximately 23% of the company’s issued share capital, to HSBC Bank plc as security for a personal bank lending facility. Despite the pledge, Mike Ashley retains beneficial ownership and full voting rights over these shares, indicating a strategic financial maneuver without altering control over the company.
The most recent analyst rating on (GB:FRAS) stock is a Buy with a £1100.00 price target. To see the full list of analyst forecasts on Frasers Group stock, see the GB:FRAS Stock Forecast page.
Spark’s Take on GB:FRAS Stock
According to Spark, TipRanks’ AI Analyst, GB:FRAS is a Outperform.
Frasers Group’s overall stock score is driven by its solid financial performance and strategic corporate events, which enhance its market position. While technical indicators suggest weak momentum, the company’s undervaluation and strategic initiatives provide a positive outlook.
To see Spark’s full report on GB:FRAS stock, click here.
More about Frasers Group
Frasers Group PLC operates in the retail industry, focusing on sports, lifestyle, and luxury goods. The company offers a wide range of products through its various brands and retail outlets, catering to diverse market segments.
Average Trading Volume: 157,458
Technical Sentiment Signal: Sell
Current Market Cap: £2.94B
For an in-depth examination of FRAS stock, go to TipRanks’ Overview page.