An extraordinary frenzy of amateur buying on the London stock market has seen the shares of one small Bermuda-based company rocket by over 875 percent.

Bolton Group International, a tiny property group which is headquartered in Bermuda, has been caught up in the largest spurt of non-professional trader buying the City has ever seen.

The boost came after Hong Kong businessman Jack Law took a 20 percent stake in the company.

Only last week stock was being traded at 2.00 a share, but this soared after the buy-up was revealed to 16.25 on Friday, and jumped further to 17.50 on Monday.

On Friday a record 2.7 million shares in the company traded hands. On Monday, the volume stock being traded eased off and yesterday almost 700,000 shares traded hands.

On a normal day, before Mr. Law became interested in the company, shares had not been traded for weeks. Recently there had been buying spurts of less than 100,000, but nothing compared to the buying frenzy seen on Friday, Monday and yesterday.

But the feeding frenzy seems to be calming and the price dropped by over 1.25 yesterday to close at 16.00.

According to the Guardian newspaper the London stock market has been witnessing "logic-defying demonstrations of individuals throwing money at hopelessly inappropriate investments''.

Bolton's ordinary shares are traded on the London Stock Exchange as BOL.L. and the company has a market capitalisation of $1.18 million.

It is listed as a real estate holding and development company and is one of 26 Bermudian companies which are traded on this exchange.