Asos surges as largest shareholder Anders Holch Povlsen ups stake

(Sharecast News) - Asos shares surged on Thursday after largest shareholder Anders Holch Povlsen upped his stake in the online fashion retailer. According to a regulatory filing late on Wednesday, Danish billionaire Povlsen - who is also the second largest shareholder in Zalando and owner of clothing chain Bestseller - upped his stake from 27.1% to just over 28%.

At 1005 GMT, the shares were up 13.7% at 261.40p.

In the UK, when a person or group has acquired 30% or more of a company's voting rights, this triggers an obligation to make a mandatory offer to the remaining shareholders.