Billionaire James Packer’s Ellerston emerges as holder of auction site Trade Me

Wed, 15 Aug 2012

By Hannah Lynch Aug. 16 (BusinessDesk) - Ellerston Capital, a fund manager controlled by Australian billionaire James Packer’s family interests, has emerged as a substantial holder of shares in New Zealand online auction site Trade Me. Sydney-based Ellerston, set up by the Packer family's holding company, Consolidated Media Holdings in 2004, owns 5.18 percent of Trade Me, according to a substantial security holder notice to the NZX. Ellerston brought the shares in 19 separate transactions between April and August at an average share price...

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