BREAKING NEWS
Australian cricketer Phil Hughes dies two days after head injury on field. ... More soon
Close

Soros lifts GPG holding

Last updated 10:17 24/08/2012

Relevant offers

Industries

Gentrack maiden result undershoots Energy Mad loss narrows Post-quake power project amping up Boom in Chinese tourists Tourism Holdings lifts profit forecast Property magnate's CEO turns to 'more effective' consultancy Orion Health worth a cool billion Criticism not just water off bidder's back Broadband bills may rise for 20,000 Tourism Holdings upgrades profit forecast

An investment fund run by US billionaire George Soros has emerged as a significant shareholder in NZX-listed GPG.

In a statement to the stock exchange this morning GPG said Soros Fund Management had taken its stake to 7.9 per cent, after acquiring more shares through its associated company Quantum Strategic Partners.

At current prices the stake has a market value of about $66 million.

The Soros announcement comes a day after Singaporean investor Tan Chin Tuan said it had sold out of GPG completely, after disposing of its remaining 5.4 per cent stake.

GPG is in the process of selling assets and returning cash to shareholders.

Its shares were trading around 52.5c yesterday, valuing the company at $851m.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content