March 24, 2017 / 5:00 AM / in 4 months

Effissimo says Toshiba stake purchase aimed at longer term price gain

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TOKYO, March 24 (Reuters) - Singapore-based fund Effissimo said on Friday it had bought its 8.14 percent stake in Toshiba Corp because it expects its share price to gain and produce returns though a longer-term increase in corporate value.

Effissimo, established by former colleagues of Japan's most famous activist investor, Yoshiaki Murakami, has become the largest shareholder in Toshiba with its stake, a regulatory filing showed on Thursday.

Effissimo's purchase of Toshiba shares is worth about 65 billion yen ($584 million), based on its closing price on March 15, the date of ownership shown in the filing. (Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)

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