It is believed that the financier Dermot Desmond has invested €7.5m and mopped up close to a 6% shareholding in One51 in the past few weeks. The shares, which trade on the grey market, are believed to have been sold by the UK’s troubled Co-operative Group.

In September, One51 offered existing shareholders the option to buy in at €0.90, which resulted in the company raising €22.5m in finance. With shares trading at €1, the company is now valued at €151m.

Co-ops that invested in September will be pleased with this 10% gain over three months. Kerry Co-op, Fane Valley, Lakelands, Kerry Group, Dairygold Co-op and Glanbia Co-op are among the company’s largest shareholders, owning circa 30% of the company.

Furthermore, Desmond must see significant uplift in the environmental and waste company’s fortunes in the future. He may be betting on the company selling its significant shareholding in NTR.