Laxey Partners investment company increased its stake in the London Stock Exchange-listed Bulgarian Land Development Plc (BLD) investment fund by purchasing 2.11 million shares, totalling 5.75 million shares or 14.37 per cent, fund’s officials told investor.bg.
BLD representatives were not available for a comment.
As previously reported, Laxey Partners has recently announced that it is considering the establishment of a fund, aimed at investing 660 million euro in undervalued companies and property funds across Europe.
The new fund, Terra Catalyst, was listed on the alternative investment market (AIM) of the London Stock Exchange (LSE) earlier this week. Its IPO was the largest IPO on the LSE since the beginning of the year, according to some publications.
London-based investment bank Fairfax raised 143.5 million euro from institutional investors for Terra Catalyst, which will focus its activity primarily on companies, based or operating in Europe. Investment in US companies and funds is not a target, investor.bg reported.
The investment manager of the new fund is the founder company - Laxey Partners.
