Petchey spots Bizspace potential
13 April 2012
BIZSPACE, which buys industrial properties and divides them into smaller offices and workspaces before letting them, is expected to reveal a major boost to its asset value this week.
Alongside its annual results, the company is due to report on Monday that net asset value per share has risen by 7% to 46p and it is likely to signal it will start paying a dividend.
That is good news for veteran investor Jack Petchey, who has built up a stake since last October and added to it on Friday, buying 150,000 shares at 39p, to take his holding to 9.1%.
Shares in Bizspace closed at 42p to value the Alternative Investment Market-listed company at £24 million.
