The central bank of Norway has cashed in on the Boohoo's recent share price rise and slashed its stake by almost 50%.
Norges Bank has cut its holdings in the fashion giant from 11.7% to 6.3%, according to new documents filed with the London Stock Exchange.
The move comes after the bank became the largest institutional investor in Boohoo earlier this month.
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Boohoo's share price has been on the rise since the bank made the investment when Boohoo's shares were being traded at 74.28p each.
On Monday, March 21, the group's shares closed at 95.90p.
Other major investors in the group include T. Rowe Price International, Invesco Advisers, Jupiter Asset Management and Franklin Templeton Institutional.
Co-founder Mahmud Kamani is the largest single shareholder with a stake of almost 12.5%.
Boohoo hit the headlines recently when it suspended its sales in Russia and closed its websites in the country following the military invasion of Ukraine.
The company said its sales in Russia are "not material" and total less than 0.1% of its group revenues.
