South African investor Nathan Kirsh has increased his stake in listed London developer Minerva to 27.2%.

News of the bid saw Minerva’s share prices jump 11.9% to 11.75p.

Last month Property Week revealed that the little-known 76-year-old businessman, who’s Kirsh Group of companies is based in Swaziland, had become Minerva’s largest shareholder with a 20.4% stake (27.11.08).

His investment vehicle, Kifin, had bought a 15.5% stake from Aberdeen Asset Management ( Property Week 27.11.08).

But now Kifin, which is part of the Liberian-domiciled Ki Corporation, has increased it stake by a further 6.8%.

Kirsh now holds 43,777,465 shares through the vehicle.