Finance director keen on Ocado shares

Ocado finance director Andrew Bracey appears to think that the online grocery retailer's shares are a bargain and he has bought some in the offer and ahead of official trading next week. The initial valuation range of 200p to 275p a share for loss-making Ocado was criticised as being too rich for investors. The share price was set at 180p, which valued Ocado, which delivers groceries from the supermarket Waitrose, at £937m. Ocado raised £200m after expenses and existing shareholders also sold shares. The cost of the offer was £15m. Bracey acquired £100,000 worth of shares in the offer. He bought another 2,000 shares yesterday when unofficial dealings began and paid 169.25p a share. Since then they have fallen back to 159p each. That takes Bracey's stake to 807,555 shares. Full dealings in the shares commence on 26 July. Top Director Buys Ocado Group(OCDO) Director name: Mr Andrew Bracey Amount sold: 2,000 @ 169.25p Value: £3,385 Top Director Sells Alternative Networks (AN.) Director name: Mr Benjamin Marnham Amount sold: 47,000 @ 156.00p Value: £73,320 Alternative Networks (AN.) Director name: Mr Benjamin Marnham Amount sold: 38,000 @ 156.00p Value: £59,280