Stefan Persson increases stake in H&M Group

London - Stefan Persson, Chairman of the H&M Group, has increased his stake in the fashion conglomerate. He currently holds a 40 percent stake in the Group after acquiring 2.1 million shares in the Swedish company.

Persson purchased 1.6 million B-shares in H&M on June 29, priced at 209 Swedish crowns (19.03 pounds) per share and an additional 520,000 shares on July 3, priced at 214 per share (19.49 pounds), according to regulatory documents filed on Tuesday reports Reuters.

The move sees Persson, son of the founder of the H&M Group, and his family hold 468 million B-shares and 194 million A-shares in the company. The increase in shares leaves Persson and his family with a 40 percent hold in the company and 70.9 percent of the shareholder vote.

Persson has been acquiring a number of H&M shares in several moves over the year, previously acquiring 350,250 shares in May.