Late raid on Guinness Peat shares pushes price to 2 ½-year high

Fri, 17 Jan 2014

By Suze Metherell Jan. 17 (BusinessDesk) – Shares of Guinness Peat Group, the cash rich owner of a thread-making business that’s attracted investors including George Soros, have jumped to a 2 ½-year high after someone scooped up 1 percent of the company. The shares climbed as high as 64 cents yesterday after an investor, likely to be an offshore fund, bought 19.7 million shares just before the close of trading. The stock traded at 63 cents today and has gained 7.6 percent so far this year. GPG has about 404 million pounds of cash after sell...

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