TRADER TALK

CITYWIRE AA-rated small-cap selector Giles Hargreave has bought a stake in engineering firm Autins, which joined AIM earlier this month. Hargreave bought 1.56 million shares or 7.05%, worth £3.2 million at a share price of 209.50p. The shares are primarily held by portfolios that he runs on behalf of Marlborough Fund Managers. Autins, which provides heat and sound solutions for several industries including automotive, raised £26.6 million from its AIM flotation. Schroders, JPMorgan and Miton Asset Management are among its largest shareholders. The firm posted £19.8 million in revenues and £1.2 million in operating profits for the year to the end of September 2015. Some of the proceeds of the listing will be invested back into the business to add to its products and to repay debt. Chief executive Jim Griffin said: “We believe the IPO is the right strategy to support the continued development of the business as it continues to grow into new and existing markets.”