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Israeli hedge fund UDN Eden buys 5.29% stake in Cettire

UDN Eden purchased 20.2 million Cettire shares for more than $4.1m, and Cettire's market cap is about $114m versus a prior peak near $2bn.

Reported · Written up by our desk · Hedge Funds

Hedgeweek reports that Israeli hedge fund UDN Eden Management has bought a 5.29% stake in Australian-listed luxury fashion retailer Cettire.

According to a substantial shareholder notice filed with the Australian Securities Exchange, UDN Eden acquired 20.2 million Cettire shares for more than $4.1m between June and October.

The filing notes that Cettire has an online global e-commerce platform selling luxury fashion to international customers, and that the company's shares were unchanged at $0.33 after the disclosure.

Hedgeweek also said Cettire's market capitalisation is approximately $114m, compared with a peak valuation of around $2bn.

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