Rockwell Advisors:Goldman Sachs, JPMorgan increased their holding in London Metal Exchange in last 1

Oct. 27, 2011 - PRLog -- Goldman raised its stake in LME Holdings Ltd. by 330,000 ordinary shares to 1.23 million shares as of Sept. 26, according to filings with the U.K.’s Companies House. JPMorgan no owns 800,000 shares compared to the 550,000 shares it held a year earlier, while ScotiaMocatta transferred its 30,000 shares in the period to leave the company with no shares, Rockwell Advisors has learned.

The bourse, which handles 80% of global trade in metals futures, told members last month that it is the would begin a process which could result in “an acceptable offer for the company being received.” Any sale would take at least until the end of the second quarter to complete, according to the exchanges CEO, Martin Abbott. The LME operates London’s last open-outcry transactions in which traders shout out orders.

The exchange issues two share classes. Ordinary shares confer ownership and 330,000 of them traded at $7.89 in July this year, according to data available to Rockwell Advisors. B shares exchanged hands at $136.90 on Sept. 27. Both of these shares are not exchange traded.

The London Metal Market and Exchange Company was founded in 1877, but the market traces its origins back to 1571 and the opening of the Royal Exchange, London. Initially only copper was traded.

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