Briscoe Group boss Rod Duke has lifted his stake in children's clothing company Pumpkin Patch, saying the move was an "opportunistic" buy and not a play for the company.
"It's an investment that I've participated in since the day of listing and I'm just being opportunistic," The New Zealand Herald reported Mr Duke saying.
On Tuesday he bought on-market 1.7 million shares for $1.60 each, giving him 9.38 percent of the company.
The move, done through his family trust Kein Geld, follows a similar move in March when he bought 6 million shares, lifting his trust's stake in the company from 4.9 percent to 8.37 percent, also at $1.60 per share.
In another notice yesterday, fund manager Fisher Funds disclosed it had sold down its stake in Pumpkin Patch to just 6.02 percent. Last year it owned more than 10 percent.