Lars Ernest Bader ups stake in Ukrainian developer DUPD to 6%
KYIV. Oct 25 (Interfax) - The company Lars Ernest Bader has increased its stake in Dragon Ukrainian Properties and Development Plc (DUPD), a fund investing in Ukrainian real estate and one of the country's biggest, from 2.85% to 5.82%, a DUPD posting on the London Stock Exchange says.
This change occurred October 24. Lars Ernest Bader now owns 6,859,362 shares in the fund.
Also, the company Weiss Asset Management, which previously acquired 29.12% of the stock in British oil and gas company Cadogan, became a DUPD shareholder October 20 with the purchase of 3.74% of shares via two of its funds at 0.345 pounds sterling per. The fund Brookdale International Partners, L.P. acquired 3,082,800 shares (2.62%) and Brookdale Global Opportunity Fund acquired 1,321,200 shares (1.12%).
The DUPD fund was set up in late February 2007. In June of that year, it went public with an IPO on the London Stock Exchange's Alternative Investment Market, raising $208 million. Later, that November, an SPO netted another $100 million.
DUPD's main projects are two cottage developments near to Kyiv. The fund plans to begin building a 65,000 square-meter housing complex in Kyiv sometime in the near future.
DUPD is the owner of a 16.67% stake in Cyprus-based Arricano Trading Ltd., which has trading centers in Ukraine.