Industrial Equity (Pacific) Ltd a Hong Kong investment firm said it raised its stake in Oglebay Norton Co to 351500 shares or 10.6 pct of the total outstanding common stock from 286500 shares or 8.6 pct. In a filing with the Securities and Exchange Commission Industrial Equity which is principally owned by Brierley Investments Ltd a publicly held New Zealand firm said it bought 65000 Ogelbay shares on March 27 at 27.00 dlrs each. It also said the Federal Trade Commission had no objection to its notification that it may buy between 15 and 24.9 pct of Ogelbays common stock.
HONG KONG FIRM BOOSTS OGLEBAY <OGLE> STAKE