Man Group Discloses 1.2% Stake in AMG Critical Materials NV

Man Group disclosed a 1.2% interest in AMG Critical Materials N.V. as of Aug. 20, according to a filing with the U.K. Takeover Panel. The hedge fund manager held 4,000 shares, including 1,000 bought on that day at €16.64 each.

The form, filed under Rule 8.3 of the Takeover Code, shows a position exceeding 1% of the target's relevant securities. The purchase adds to Man Group's existing holding.

AMG Critical Materials processes vanadium and lithium, metals used in steel alloys and battery storage. The company's shares trade on Euronext Amsterdam. The disclosure comes after a period of steady demand for specialty metals linked to energy transition supply chains.

Man Group's filing is dated Aug. 21. The stock closed at €16.50 on Aug. 20, near the price of the disclosed purchase.