| 12.4°C Dublin

Fingleton makes money in One51 price spike

HEAVY, heavy trading in Alan Walsh's €120m valued waste-to-bread group One51 has been seen in recent weeks. Shares in One51 have trebled over the last year as new boss Walsh restructured the group and got a handle on its debt mountain.

Cantor is thought to be hoovering up stock for a client. Nick Furlong's Pageant Holdings, which has been also buying up shares in NTR, is now thought to own as much as 12 per cent of One51, having been extremely active in the market. Nama has offloaded shares held by one of its customers in recent weeks.

The share price spike has improved the fortunes of One51's other backers. Former Irish Nationwide boss – the lovable Michael Fingleton – has a stake worth around €65,000. This has trebled in value over the last year. Yay.

One51 attracted the backing of some of the biggest names in Irish business during the boom. Shareholders include ex-AIB boss Tom Mulcahy, who owns €106,000 worth of shares, Tony Barry's Barry's Tea, which has a stake worth €189,000 and former C&C chairman Tony O'Brien with shares valued at €94,000. Other investors include Balderton's Barry Moloney, Freda Hayes, Sunway Holidays boss Tanya Airey and Brendan Drumm.

The register has also included former Bank of Ireland chief Mike Soden, Denis O'Brien's Baycliffe investment group, Kingspan's Gene Murtagh and Spar magnate John Clohisey. Larry Goodman's Parma Investments held over €6.6m worth of shares in the boom but, as of January last, no longer holds shares in its own name.

The register also lists developer Bernard McNamara as holding 200,000 shares, dating back to October 2007. The ill-fated Custom House Capital is also listed as a shareholder, care of John Mulholland, with 25,940 shares in its account dating back to 2006. Shares were touching the €6 mark back then. Ouch.

Business Newsletter

Read the leading stories from the world of business.

This field is required

Most Watched