Liberty International Rises Most Since 1992 on Government Stake
The shares rose 45 pence, or 12 percent, to 420 pence, paring the decline in the past six months to 12 percent and lifting its market value to 2.4 billion pounds ($3.9 billion).
Liberty raised 620 million pounds in a share sale last month to bolster its balance sheet as the value of its assets declined. Simon Property Group Inc., the largest owner of U.S. malls, lifted its holding to 6.2 percent, according to a June 2 statement.
Public Investment Corp., which is owned by South Africa and manages money for public pension funds, bought 25.2 million shares, it said a statement today.
U.K. real estate stocks rose today after Hammerson Plc said it sold a 75 percent stake in its largest asset to a fund owned by Oman.
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