STOCK WATCH

TAILORING company Bagir was looking sharp after an investment from Chinese brands giant Shandong Ruyi.

Shandong said it would pay £12.6m for 54pc of Bagir and bag 360m new shares for 3.5p each, worth an extra £12.6m.

Bagir licenses brands including Austin Reed’s AR Red and Jay Godfrey. Its shares shot up 89.7pc, or 1.3p, to 2.75p.

Eran Itzhak, the company’s chief executive, said Shandong’s involvement ‘fundamentally changes the future prospects of Bagir’.