Yellow Brick Road (ASX:YBR) substantial shareholder Macquarie Group (ASX:MQG) has demonstrated its confidence in the company by increasing its interest to 18.35% from 10.4%.
Macquarie had on 29 August 2014 bought 22,102,016 shares in an on market purchase priced at $0.70 each, or a total consideration of $15,471,411.2.
This is a significant investment in YBR and follows its acquisitions of Vow Financial and Resi Mortgage Corporation, which put it well on the path towards becoming a leader in the ‘non-bank’ sector.
YBR had in late 2012 signed a deal that saw Macquarie fund mortgages through Yellow Brick Road's retail network.
Macquarie has also recently sold its 204,803 shares in Vow to YBR for 4,959,158 YBR shares priced at $0.70 each.
Macquarie now holds a total of 51,020,919 YBR shares.
