Nissan shares jump more than 20% after activist Effissimo takes stake
FILE PHOTO: A Nissan logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo
TOKYO : Nissan Motor shares jumped as much as 20.6 per cent on Tuesday after a filing showed an entity related to activist investor Effissimo Capital Management had taken a stake in the struggling Japanese automaker.
In a regulatory filing on Monday, Nissan listed Cayman Islands-registered ECM Master Fund as a shareholder with a 2.5 per centstake as of end-September. ECM Master Fund is affiliated with Effissimo, according to SEC filings.
Source: Reuters
