the word is out...Oswal takes 6% slice of Phosphate Aust...

the word is out...

Oswal takes 6% slice of Phosphate Aust

11-December-08 by Rebecca Lawson

Burrup Fertiliser chief Pankaj Oswal has emerged as a substantial holder in West Perth-based Phosphate Australia, spending over $2 million for a near 6 per cent slice.

In a notice to the stock exchange, Mr Oswal has been building up his interest in the company in a series of purchases since early October to hold a 5.87 per cent stake in the Phosphate, paying on average some 36 cents per share.

Phosphate Australia made a stunning debut on the ASX in July, with its share price on the first day of trade closing at a near 200 per cent premium to its 20 cent issue price.

Shares in the company last traded at 38c at 10:25 AEDT, up three cents from yesterday's close.