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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