- Colefax shares surged after Peel Hunt tabled an offer to purchase an 8% stake in the company.

Peel Hunt would purchase up to a maximum of 784,560 shares, 8% of the company's shares, at the lower of either 550 pence per share, or 105% of the average closing mid-market price per share over the five business days immediately before the 26 April 2019.

Assuming a price of 550p, the offer would represent a premium of 18.3% to the 360 day volume weighted average price per share on 8 April 2019, Colefax said.

At 9:03am: [LON:CFX] Colefax Group PLC share price was +55p at 530p

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