LONDON - T. Rowe Price Associates, Inc., a global investment management firm based in Baltimore, has increased its stake in Auction Technology Group (LON:ATG) PLC, a UK-based company, crossing a significant shareholding threshold on November 28, 2024. According to a regulatory filing released on December 2, 2024, T. Rowe Price now holds a total of 6.237222% of the voting rights in the company, up from the previous notification of 4.967186%.
The total number of voting rights T. Rowe Price possesses in Auction Technology Group PLC amounts to 7,604,561. The disclosure was made in accordance with the UK's Financial Conduct Authority's Disclosure and Transparency Rules, which mandate the notification of major holdings for transparency in the market.
This change in shareholding comes after an acquisition of shares by T. Rowe Price International Ltd., a controlled undertaking of T. Rowe Price Associates, Inc. However, the press release did not provide details regarding the specific reasons behind the increase in ownership nor the strategic intentions of T. Rowe Price with respect to its investment in Auction Technology Group.
Auction Technology Group PLC is listed on the London Stock Exchange (LON:LSEG) with the ISIN code GB00BMVQDZ64. The company specializes in providing online auction platforms and related technology services for curated auctions.
The announcement was made public through RNS, the news service of the London Stock Exchange, and is subject to the rules and conditions of the Financial Conduct Authority in the UK. The completion of the notification process took place in Baltimore, Maryland, USA, on December 2, 2024.
Investors may view changes in major holdings in publicly traded companies as indicators of institutional confidence and potential shifts in market dynamics. However, it is important to note that this report is based on a press release statement and does not speculate on the broader implications of the increased stake by T. Rowe Price in Auction Technology Group PLC.
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