Saracens owner takes stake in women's clothing retailer Sosander - sources

Friday, 3 November 2017, 1:31 pm

The London market is all aflutter today after a couple of big IPOs (Bakkavor and Arqiva) were scrapped. But don't fret - Betaville has some upbeat news about new(ish) listing at the smaller end of the market.

Sources familiar with the matter said Nigel Wray, chaiman of Saracens Rugby Club and serial investor, has snapped up a stake in Sosandar, the womens fashion etailer that is gaining a listing by reversing into an Aim-listed cash shell called Orogen.

Wray, who some call "Britain's answer to Warren Buffett", is said to be investing between £750,000 and £1 million in Sosandar, giving him a sizeable stake in the business as the total raised was just over £5 million.

Sosander, which was set up by the former editor and publishing director of Look magazine, declined to comment...

[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].

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