Shares in W.H. Ireland Group plc (LON:WHI) soared by more than 28% after news that a Middle East company was eyeing a stake in the stockbroker.
The stock raced ahead 29p to 129.99p as the broker noted weekend media speculation and said it was aware that Kuwaiti European Holdings Group (KEHG) was considering acquiring a shareholding.
"Further announcements will be made in due course, as required," Ireland's chief executive Richard Killingbeck said.
Sky News reported at the weekend that KEHG was close to unveiling a deal to buy nearly 30% of WH Ireland, "potentially as the precursor to a full takeover".
The Kuwaitis are said to be purchasing the shares from a collection of high-profile investors, including former Tory party treasurer Lord Marland and ex-Southampton Football Club chairman Rupert Lowe.