The Australian fund IFM has raised its stake in the Spanish gas company Naturgy from 13.385% to 14%, it said in a statement to the Spanish stock market regulator on Tuesday.

In 2021, IFM made a bid for a 17% stake in Naturgy, but only managed to reach 10.83%.

Since October 2021, IFM has raised its stake in Naturgy five times, most recently in March 2022, according to data from the National Securities Market Commission.

(Reporting by Jakub Olesiuk, Matteo Allievi and Marta Serafinko; editing by Inti Landauro and Jesús Aguado; edited in Spanish by Darío Fernández)