17th Jun 2016 11:44
LONDON (Alliance News) - Prominent fund manager Neil Woodford's Woodford Investment Management LLP has built up a stake of more than 15% in recently-listed Time Out Group PLC.
Time Out, which publishes print magazines and produces digital content under the Time Out brand, debuted on AIM on Tuesday and raised GBP90 million in its initial public offering at a price of 150.0 pence.
In a stock exchange filing, Time Out disclosed Woodford Investment Management has taken a 15.42% stake in the company. Woodford runs the FTSE 250-listed Woodford Patient Capital Trust PLC.
Shares in Time Out were up 1.8% at 144.00 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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