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Billionaire heir makes a tasty profit from Ocado listing

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.
Rausing is thought to have made around £50 million from his initial 7% stake in Ocado, the groceries delivery firm, when it listed in London today. This initial stake cost Rausing around £15 million when he bought the shares back in 2003.
Ocado shares were trading at around a 20% discount to the IPO price due to concerns that the original valuation of the company, more than £1 billion, was far too high.
The London-based investor has since increased his stake in Ocado to around 11%, making him one of the biggest shareholders in the firm.
Rausing's fortune comes from the Tetra Pak packaging company, founded by his grandfather Ruben and developed by his father Gad and uncle Hans. He still sits on the board of Tetra Laval, which Tetra Pak became after the merger with Laval in 1993.
In the latest Sunday Times Rich List, Jorn and his sister Kirsten are ranked among the top 20 wealthiest people in the UK with a fortune estimated at £3.5 billion.

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