Dorchester lifts Turners Auctions stake to 19.85%; no plans to make offer

Mon, 10 Jun 2013

June 10 (BusinessDesk) – Dorchester Pacific, the financial services firm whose shares have soared 237 percent in the past year, lifted its stake in Turners Auctions to 19.85 percent and said it has no immediate plans to make an offer for the company. Dorchester is flush with funds after a greater-than-expected conversion of options and share placement this month raising about $21 million. The company has a potential acquisition to expand in financial services in its sights, though it is too soon to give details, chief executive Paul Byrnes to...

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