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TODAY'S OTHER NEWS

Star fund manager Woodford increases his stake in Purplebricks

Star fund manager Neil Woodford - whose investment judgements have made him something of a celebrity in the world of high finance - has increased his stake in online estate agency Purplebricks. 

A Stock Exchange announcement made just before the Christmas break says Woodford Investment Management has acquired another 800,000 shares in the firm lifting its total stake to 69,963,224 shares, accounting for 29.1 per cent of the share capital.

The latest purchase comes after Purplebricks listed on AIM earlier this month at valuation of around £240 million. The firm raised around £58 million from its initial public offering.

Woodford started his involvement with Purplebricks in August 2014 when he described the company as “a highly disruptive business model in the world of estate agency.” 

He added at the time: “With the funding that it now has at its disposal, I see a significant opportunity for the business to lead the market in changing the way we buy and sell houses in the UK.”

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