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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

What a canny operator Lord Ashcroft is

More evidence, as if it were needed, of what a canny operator Lord Ashcroft is. The Tory peer, one time treasurer of the party, has today made a £2.1m investment in an Aim-listed fund management group, and already he is in the money.

He is paying 8p a share through his Mayfair Limited company for a 21% stake in Arc Fund Management. The move is part of a general fundraising, with another 8m shares being placed at 11p each to raise £900,000.

Arc's shares fell 1.75p to 11.5p in the market today, leaving investors in at the placing price with a £40,000 profit between them. In comparison, Ashcroft is already sitting on a £900,000 gain.

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