3rd Sep 2019 19:03
(Alliance News) - Nex Group PLC founder Michael Spencer has built a 6% stake in Numis Corp, the Financial Times reported on Tuesday.
Former Numis chair Spencer has been increasing his stake in Numis, the FT noted, after his acquisition of a 3% stake back in October last year.
Spencer made his first Numis investment back in 2003 but sold almost all of his stake when he stepped down in 2009. According to the FT, Spencer was drawn to invest again by Numis's low share price.
Shares in Numis closed up 0.4% at 247.50 pence in London on Tuesday, but traded as high as 430p in June 2018.
"I think it's by a country mile the number one UK independent investment bank. I just think it's a really good quality business," Spencer told the FT.
https://www.ft.com/content/60d791f4-ce46-11e9-b018-ca4456540ea6
Related Shares:
NUM.L