27th Mar 2019 12:05
LONDON (Alliance News) - Debenhams PLC on Wednesday said that Odey Asset Management LLP now holds a 5.23% interest in the company.
Odey's stake in the department store chain operator prior to Tuesday's deal, if any, was not disclosed.
Debenhams shares were trading more than 50% higher at 3.34 pence each on Wednesday around midday after Sports Direct International PLC priced a proposed offer for Debenhams at 5p per share valuing the firm at GBP61.4 million.
Shares in Debenhams closed at 2.198 pence on Tuesday, giving the company a market capitalisation of just under GBP27 million. This is less than half what Sports Direct is considering offering.
Related Shares:
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