NAB now substantial holder in Reverse Corp

Acquisition gives NAB's investment arms a combined 5.3 percent share of the company

National Australia Bank (ASX: NAB) has purchased nearly 5 million shares in Reverse Corp Limited (ASX: REF).

The acquisition gives NAB's investment arms MLC Investments Limited and Northward Capital a combined 5.3 percent share of the company, with associated voting power.

NAB is now classified as a substantial shareholder of Reverse Corp Limited, the company behind the 1800-REVERSE reverse-charges service.

The shares were purchased prices of between $1.85 and $3.62 a share.

REF shares are currently trading for $1.50.

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