Aug 4 (Reuters) - IFM Global Infrastructure Fund and its related entities have raised their stake in toll road operator Atlas Arteria Group (ALX) , an exchange filing showed on Thursday, a week after the fund manager walked away from a potential buyout deal.
Diamond Infraco, an entity related to IFM, and its associates increased their combined interest in Atlas to 19%, according to a filing with the Australian Securities Exchange.
Both IFM and Atlas were not immediately available for a Reuters request for comment.
IFM had acquired a 15% stake in Atlas and hinted at a potential takeover attempt in early-June, but it said last week that it was not in a position to progress with a deal and ceased discussions.
The 4% additional stake that IFM has since acquired is valued at nearly A$300 million ($208.80 million), based on a last close price of A$7.75. Atlas's valuation stood around A$7.4 billion, based on Wednesday's closing stock price.
Shares of the company surged as much as 5.7% to A$8.19, recording their biggest single-day gain since June 8.
($1 = 1.4368 Australian dollars)
News: ALX IFM raises stake in Australia's Atlas a week after pulling out of deal
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