By Rod Nickel
Nov 4 (Reuters) - Shares of Intrepid Potash Inc, aU.S. producer of the crop nutrient potash, jumped nearly 11percent on Monday after privately held Koch Industries Inc said it had upped its stake in the company.
Wichita, Kansas-based Koch, one of the largest U.S. privatecompanies, disclosed in a regulatory filing that it owned 5.2million shares of Intrepid as of Sept. 30, or 6.9 percent of thecompany's outstanding shares. It had owned 1.38 million sharesas of June 30, while its subsidiary, Spring Creek Capital, owned4.125 million shares, or 5.44 percent, according to an Aug. 19filing.
Koch's businesses include Koch Fertilizer LLC, which alongwith its subsidiaries owns fertilizer plants in the UnitedStates, Canada and Trinidad and Tobago.
A Koch spokesman could not be reached for comment.
Shares of Denver, Colorado-based Intrepid fell sharply withother potash miners after the July 30 breakup of BelarusianPotash Company, which triggered a dip in potash prices.
Intrepid shares have since recovered.
The stock gained 10.7 percent in New York at $15.75 onMonday. The company has a market capitalization of about $1.2billion.
The fertilizer sector also got a lift on Monday when HSBCupgraded several companies including Potash Corporation ofSaskatchewan, Agrium Inc, K+S AG and Mosaic Co.
K+S shares jumped more than 9 percent in Frankfurt, whileAgrium and Potash Corp each gained about 3.6 percent and 3.3percent in New York and Toronto, respectively.
- Basic Materials Industry
- Koch Industries