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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Sky says Roy Morgan's Neon number is too low, reveals On Demand usage
- MARKET CLOSE: NZ shares rise, Sky TV, Orion gain while Tower extends slide
- $100m later, Woosh Wireless goes into voluntary administration
- Jade Software loss up in 2015
- National hasn't got it right on IT skills shortage, Orion boss says
Most listened to
- Can Arvida continue at this pace? CEO Bill McDonald weighs in
- AFT’s Dr Hartley Atkinson says the country will increase overseas revenue but it will be a “drip feed”
- US drone shocks in Pakistan with frightening questions in EgyptAir crash on Foreign Affairs Scope with Nathan Smith
- AMA: Orion boss Ian McCrae delivers 10 quickfire answers to 10 quickfire questions from readers
- Government debt will top out at about 26% of GDP, well below most other countries, says Professor Niall Ferguson