Wednesday July 8, 2020

Italian hedge fund builds €30m stake in Glenveagh

Helikon Investments has 5% ownership in homebuilder after buying shares over three months

Barry J Whyte

Chief Feature Writer

21st June, 2020
Glenveagh has restarted work on 80 per cent of its sites since beginning a phased reopening on May 18

An Italian hedge fund has built up a more than €30 million stake in Glenveagh Properties, the Irish homebuilder, just as construction restarts around the country.

Helikon Invesments, a spin-off of German bank Julius Baer, has told the stock market that it now has a stake of 5.13 per cent in Glenveagh, worth more than €30 million at the current share price of just under 70 cents.

Helikon’s stake cost it a total of €25 million to...

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