Bestseller has 20.3% of ASOS

7th Feb 2011 18:53

Danish fashion retail group Bestseller has added to its stake in ASOS a fortnight after the online fashion retailer reported a 59% jump in revenues for the three months to December 2010. Bestseller has increased its stake from 18.3% to 20.3%. This stake has been building up in recent months. Many analysts believe that AIM-quoted ASOS shares are fully valued but any disposals this advice prompts appear to be mopped up by Bestseller. The ASOS share price hit an all time high of 1708p during the day but it closed just below its highest closing price of 1683p, which was less than three weeks ago.