RE: Foxtons30 Apr 2026 15:19
Appreciate your insight Stumpy but the downside in Foxtons shares is wholly attributed to IG Index and their RNS holdings on 27th January 2026 and nothing else.
Let me explain, on the said date IG made an RNS announcement after hours confirming that they entered into an Equity Swap and as a result of this transaction, IG declared a holding of 8,905,549 shares in Foxtons shares.
What wasn't declared was the counterpart to this deal other than that the transaction was conducted in Poland of all places !
Since this RNS and regardless of all the news coming out of Foxtons and it's future prospects the shares traded down to yet another year low of 41.30p or back to its 2018 levels when the company was on the verge of hitting rock bottom just before Covid.
This Equity swap took place on 27th January 2026 as I mentioned and looking at the trades and prices on that day and using a VWAP it looks like the deal may have been transacted at 52.53p or thereabouts.
Now lets look at the price difference, I.e. 52.53p less 41.30p the year low of Foxtons share price this year and we arrive at 11.23p.
So what you may ask, well if take the IG holding and multiply it by 11.23p :-
8,905,549 x 11.23p
We get a shade over £1,000,000 !
Expect another RNS from IG Index that they've sold this holding !
And for the record, IG Index hasn't allowed any of their clients to short Foxtons shares for over a year now !
Converium and Mr 4% must be happy as well as the top 10 institutional holders of Foxtons, as each and every one of them are now nursing some hefty paper losses courtesy of IG .