HSBC increases stake in Irish oil and gas explorer Providence

UK financial services major HSBC Holdings Plc (LON:HSBA) has increased its interest in Irish oil and gas exploration and appraisal firm Providence Resources Plc (LON:PVR) to 6.65% as of 15 February, the latter announced today.

Late last month, Providence Resources reported that HSBC’s holding amounted to 5.12%. Its current stake, comprising 4.29 million units, is worth GBP26.7m (USD40.7m/EUR30.9m) based on a share price of GBP6.215 earlier today.

The oil and gas firm’s other shareholders as of 22 February are the current CEO Anthony O’Reilly with a 15.45% stake, BlackRock Investment Management (UK) Limited with 10.8%, JPMorgan Chase & Co (NYSE:JPM) with 5.94%, Henderson Global Investment Limited with 3.88% and F&C Asset Management Plc (LON:FCAM) with 3.87%, according to its website.