ORBIS Investment Management has become a substantial shareholder in AVJennings.
Orbis
Earlier last week, AVJ’s chairman Simon Cheong increased his stake in the company from 42.66% to 48.94%.
The increase in his shareholder was a result of Cheong subscribing to AVJ’s rights issue, which totalled 32.62 million shares totalling 6.28% in the company.
AVJ’s share price traded 1.5 cents higher at 61 cents on Friday June 13.
Australian Property Journal
