Another FKP Director Buys Shares

Last week we noted two FKP directors (Aveo’s parent) bought shares at about $1.00 each. This week one of the largest shareholders and an original director of FKP, Phillip Parker, spent $199,200 on 166,000 shares (priced at $1.20) for his super fund, adding to his existing shareholding of 13,362,934 shares. There is talk that Stockland may have a late challenger for buying the Aveo assets which would drive up the price. But consider the position of Mr. Parker; in June this year his shareholding was worth $68.6 million and today it is worth $13.2 million. He has lost $55 million in just four months