Activist investor Edward Bramson led Sherborne Investors has acquired a 5% stake in British banking giant Barclays.

In a statement, Barclays stated that Sherborne controlled entities have received voting rights of 5.16% in the bank’s issued share capital.

Welcoming Sherborne as its shareholder, Barclays said it will continue to engage with Sherborne.

Sherborne has already made an investment of nearly $808m in bank’s shares and derivatives, reported Reuters.

Currently it holds 1.94% of Barclays voting rights through directly held shares while the remaining stake is owned through derivatives.

Following the announcement, the share prices of Barclays soared by nearly 4%. The shares of Sherborne also witnessed a 2.3% increase.

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Established in 1986, Sherborne is associated with private and publicly listed investments. Earlier it has invested in British private equity firm Electra.

The investment in Barclays is estimated to put additional pressure on British banking giant’s current strategy which focuses on investment banking.

Last month, Barclays reported attributable loss of £1.92bn in 2017 compared to £1.62bn profit a year earlier.

Net operating income of the British bank stood at £18.74bn, a decline of 2% compared to £19.08bn in 2016.