Each week, we provide an overview of insider transactions, investments in young local companies and news from listed companies.
His foundation sells $ 21 million in shares
The Bill and Melinda Gates Foundation sold Canadian National shares for $ 20.6 million at the end of December. The Microsoft co-founder nevertheless remains the largest shareholder in the Montreal company. Prior to this transaction, his foundation and personal holding company, Cascade Investment, held more than 16.6% of CN’s shares. The railway company is worth more than $ 30 billion on the stock market.
IBM swallows a Montreal SME
The American giant IBM got its hands on the Montreal fintech Expertus in mid-December for an unspecified sum. Founded in 2001 by Jacques Leblanc, the firm offers cloud computing solutions to the financial sector. Over 1,000 banks, regulatory agencies and businesses around the world use the Expertus payment platform. Every day, it processes transactions totaling over US $ 50 billion.
He sells Tecsys for $ 10.5 million
David Brereton, co-founder and chairman of the board of Tecsys, sold more than $ 10.5 million in shares of the Montreal-based company last month. The stock price of Tecsys, a specialist in supply chain management, recently hit new all-time highs, so the company is now worth nearly $ 750 million. Mr. Brereton still owns some 18% of Tecsys.
Laurentian administrator buys
David Mowat (pictured), who has been a member of the Laurentian Bank board since August 2019, bought more than $ 300,000 of the institution’s shares at the end of December. For his part, Stéphane Therrien, who recently left a position of vice-president, sold nearly $ 180,000 in Laurentian shares shortly before Christmas.
Nice profit for a CGI co-founder
One of the founders of CGI, André Imbeau (photo), made a gain of more than $ 425,000 by exercising stock options in the Quebec multinational a little over a month ago. Mr. Imbeau owns approximately 1.3% of CGI against 10% for the other co-founder of the company, Serge Godin.
BDC sells H2O
The Business Development Bank of Canada sold H2O Innovation shares for $ 6.6 million in early December. The participation of the federal Crown corporation in the Québec enterprise thus fell from 14.2% to 9.5%. H2O specializes in water filtration systems.
Teilor Stone has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Bobr Times, Teilor Stone worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my email@example.com 1-800-268-7116