Key Takeaways
- • Israeli hedge fund UDN Eden Management has built a 5.29% substantial stake in ASX-listed online luxury retailer Cettire (ASX:CTT), according to a substantial shareholder notice lodged with the ASX.
- • UDN Eden acquired 20,200,000 shares for more than $4.1 million between June and October.
- • UDN Eden is a low-profile fund manager focused on small-cap to mid-cap international companies.
- • Cettire trades at a market value of $114 million, well below its reported peak valuation of $2 billion; the share price was unchanged at $0.33 after the announcement.
- • The filing is one of several recent shareholder moves in Cettire, including a director purchase and changes among existing backers.
Summary
Israeli hedge fund UDN Eden Management has emerged with a 5.29% substantial stake in Cettire (ASX:CTT), the Australian-listed online luxury retailer, according to a substantial shareholder notice lodged with the ASX. The notice shows UDN Eden acquired 20,200,000 shares for more than $4.1 million between June and October.
UDN Eden operates as a low-profile fund manager targeting small-cap and mid-cap international companies. The investment comes as Cettire trades at a market value of $114 million, sharply down from a peak valuation of $2 billion. Following the announcement, the share price was unchanged at $0.33.
The filing lands amid other shareholder activity in the stock. Per publisher context, LHC Capital has sold out of Cettire entirely, while Regal increased its stake to 14.1% from about 11%. Separately, director and CEO Dean Mintz acquired 10.7 million shares, lifting his total holdings to 137,182,925 shares. Cettire was founded by Mintz and continues to serve international luxury fashion shoppers through its global e-commerce platform.
UDN Eden operates as a low-profile fund manager targeting small-cap and mid-cap international companies. The investment comes as Cettire trades at a market value of $114 million, sharply down from a peak valuation of $2 billion. Following the announcement, the share price was unchanged at $0.33.
The filing lands amid other shareholder activity in the stock. Per publisher context, LHC Capital has sold out of Cettire entirely, while Regal increased its stake to 14.1% from about 11%. Separately, director and CEO Dean Mintz acquired 10.7 million shares, lifting his total holdings to 137,182,925 shares. Cettire was founded by Mintz and continues to serve international luxury fashion shoppers through its global e-commerce platform.
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