Billabong Founder and Board Member Gordon Merchant bought 1.7 million more shares of the company’s stock last week, according to documents filed with the Australian Securities Exchange.
The purchase cost him just over AUD $1 million.
With the recent acquisition, Gordon now owns a total of 98 million shares.
Since the new Billabong team has been in place, Gordon has been more involved in company strategy.
Billabong’s stock price closed at 59 cents in trading in Australia on Monday.
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