March 20, 2014 / 9:30 PM / 4 years ago

Golden Gate Capital discloses 9.5 pct stake in apparel retailer Ann

March 20 (Reuters) - Private equity firm Golden Gate Capital disclosed a 9.5 percent stake in women’s apparel retailer Ann Inc and said it believed the company’s stock was undervalued.

Shares of Ann, the owner of Ann Taylor and LOFT chains, rose 10 percent to $41 in extended trading.

Golden Gate said in a regulatory filing that it owned about 4.4 million shares of Ann as of Thursday, making it the company’s largest shareholder. (Reporting by Maria Ajit Thomas in Bangalore; Editing by Kirti Pandey)

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