Intrepid Potash Jumps After Koch Industries Boosts StakeJack Kaskey
Intrepid Potash Inc. rose the most in two years after Koch Industries Inc., the holding company controlled by the billionaire Koch brothers, increased its stake in the potash miner to 6.9 percent.
Intrepid rose 11 percent to $15.75 at the close in New York, the most since August 2011.
Koch Industries, owned by Charles Koch and David Koch, said today in a filing that it held 5.2 million Intrepid shares as of Sept 30. That means Wichita, Kansas-based Koch Industries is the fourth-biggest Intrepid investor, according to data compiled by Bloomberg. In August, Spring Capital LLC, which is owned Koch Industries, said in a filing it held 4.13 million Intrepid shares.
Intrepid which is based in Denver, produces potash in New Mexico and Utah, according to its website. Closely held Koch Industries’ Koch Fertilizer LLC sells potash and nitrogen-based fertilizers.