Woolworths. Picture: JAMES OATWAY
Woolworths. Picture: JAMES OATWAY

The Public Investment Corporation (PIC) has upped its stake in retailer Woolworths to 15.076%, worth about R5.4bn on Thursday morning.

According to Bloomberg data, PIC had held about 11% of the group as of the first quarter of 2020.

The share price of Woolworths has fallen 28.83% so far in 2020, compared to a 6.02% fall for the JSE all share.

gernetzkyk@businesslive.co.za