High profile property developer Nick Candy has purchased over £500,000 worth of shares in digital social media platform Audioboom (LON:BOOM).
Candy, along with his brother Christian, made his name building luxury flats. Developments include the luxury One Hyde Park apartment complex in London.
Last month he became a non-executive director at Audioboom, which specialises in streaming podcasts and radio programmes via its mobile app.
The company recently signed Russell Brand as its flagship presenter while the likes of talkSport, the Guardian, Absolute Radio and the BBC have signed up to use the platform.
In a stock exchange statement today, Audioboom said Candy purchased 9,170,000 ordinary shares in the company at 5.88p apiece on 12 May – a £531,500 purchase.
Candy now holds nearly 25mln shares in the firm which accounts for 4.6% stake.
Audioboom shares headed higher on the news and were up 14% to 8.1p in early afternoon deals.