Photon gains a new stakeholder

Boutique investment fund Intelligent Investor has taken a punt on the depressed state of Photon Group’s share price and bought 5% of the company.  

Intelligent Investor Funds Pty is a spin off from the Intelligent Investor publication.

The fund has bought just over 80m shares, amounting to 5.22% of the company, the company has disclosed to the ASX.

Share in Photon Group – which owns agencies including BMF, BWM and Naked Communications – sank to a new low of 2.6c on Tuesday. It has since recovered fractionally to 3.1c at the time of posting, giving it a market capitalisation of just under $48m.

The shares were bought by Intelligent Investor in a number of trades amounting to taking place between June 24 and August 8.


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