CAE’s largest shareholder has just raised its stake in the Montreal-based provider of airline pilot training software solutions above the 10% mark.
Asset manager Mackenzie purchased approximately $25 million worth of CAE stock in October, representing 803,199 shares.
These transactions meant that Mackenzie’s stake was just above the 10% mark at the beginning of November, it is specified in a document just filed with the authorities.
This institutional investor increased its investment in CAE in June to become the only one to hold a stake greater than 10%. However, investment had slipped below 10% in August after the sale of blocks of CAE shares.
The Caisse de dépôt et placement du Québec still does not want to say whether it will support the purchase offer from an American group accepted this fall by the Montreal maritime and environmental services company Logistec. The largest institutional shareholder of Logistec, the Caisse indicated to La Presse this week that it was aware of the arrangement proposed in the circular just published by Logistec and that it will make its position known following the meeting of shareholders scheduled for December 18. The Caisse specifies, however, that it was in the company of the Quebec company QSL that it presented a competing proposal which was not accepted by Logistec.
The National Bank announced Friday the issuance of panda bonds allowing it to raise the equivalent of 191 million in Canadian dollars. National Bank had been the first North American financial institution to be able to borrow capital in the Chinese bond market after launching a panda bond program in 2016. A “panda” is a renminbi-denominated bond issued by a non-Chinese issuer in China. In the same way that in Japan we speak of samurai bonds and in the United States of Yankee bonds, the term maple bonds is used here to refer to foreign issuers who finance themselves on the Canadian market. This issue makes it possible to diversify the bank’s sources of financing. The proceeds of the issue can help the bank financially support the activities of clients in China or local Chinese partners in their expansion projects.
The big boss of the CGI Group has just made a gross gain of 11.5 million by selling shares in the Montreal technology services company. George Schindler exercised 113,695 options on November 17 at a strike price of $37.82 and then sold these securities the same day at a unit price of $139.40.
A senior Saputo executive has just purchased nearly a quarter of a million dollars worth of shares in the Montreal dairy processor. UK dairy division honcho Tom Atherton purchased a total of 8,860 shares during the November 16-17 trading sessions.
A member of BCE’s management team has just sold nearly $2.6 million worth of shares in the Montreal telecommunications company. Head of Business Markets, Customer Experience and Artificial Intelligence John Watson sold a total of 48,717 shares on November 7 and 10.
Quebec stocks of Gildan, Lassonde and Alimentation Couche-Tard all hit a 52-week high this week on the Toronto Stock Exchange. On the other hand, those of Supremex, NanoXplore, Groupe TVA and Alithya slipped this week to a 52-week low.
