Ocado has been given a boost as it has emerged that Fidelity, one of the world’s largest fund managers, has taken a 13% stake in the business.
Fidelity has a reputation for spotting undervalued companies, and was an early investor in Google.
Other major shareholders to declare stakes include Nomad Investment Partnership, an early investor in fashion etailer Asos, and existing shareholders used the float to increase stakes, including Generation Investment Management, the firm co-founded by former US vice president Al Gore, Tetra Pak billionaire Jorn Rausing, and hedge fund manager Nick Roditi.
Ocado was forced to slash its flotation price the day before it floated after investors and City analysts baulked at the price. It eventually floated at 180p but the price fell on its first day of trading.