JPMorgan Poised To Make 157% On MF Global’s LME Shares

By Agnieszka Troszkiewicz – Jun 20, 2012

JPMorgan Poised to Make 157% Return on MF Global’s LME Stake

JPMorgan Chase & Co. (JPM), the largest U.S. bank, is poised to more than double the value of its investment in London Metal Exchange shares bought seven months ago from the U.K. unit of bankrupt MF Global Holdings Ltd. (MFGLQ)

JPMorgan is the biggest investor in the LME, with 1.4 million shares valued at 150.6 million pounds ($236.8 million) after Hong Kong Exchanges & Clearing Ltd. agreed to buy the London bourse at 107.60 pounds a share. The New York-based bank increased its stake in November when it agreed to buy 600,000 shares from MF Global U.K. Ltd. at 41.92 pounds apiece.

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