Each week, we provide an overview of insider transactions, investments in young local companies and news from listed companies.
The family sells $ 133 million in shares
GRI Investments, a firm controlled by the Rossy family, divested $ 46.6 million in Dollarama shares last week. At the same time, the Rossy Foundation sold some for $ 86.5 million. In a statement, the Rossys said they carried out the transactions for purposes of “financial diversification” in the case of GRI and to allow the foundation to fund “existing commitments to various charities”. After the sales, the two entities still held 3.9% of the shares of the Montreal retailer.
A RATA at Goodfood
The CEO of Marché Goodfood, Jonathan ferrari, and the company’s chief operating officer, Neil Cuggy, recently established Automatic Stock Disposal Plans (ATRs) that will allow them to sell 375,000 shares each over the next 12 months. If the transactions had been completed this week, the two executives would have received more than $ 3.5 million each. Canadian authorities recently released new “indications” of RATA, which sparked controversy at Bombardier in 2018.
Sagard creates a new fund
Sagard Holdings announced this week that it had received commitments of US $ 650 million for its second private credit fund. The Power Corporation subsidiary intends to raise an additional US $ 450 million over the coming months for this fund. In 2018, Sagard’s first loan fund raised US $ 557 million, which is now 85% invested.
Potloc raises $ 20 million
The young Montreal startup Potloc, which conducts consumer studies on social networks, recently raised $ 20 million from Quebec funds Brightspark Ventures and EcoFuel as well as from Desjardins Capital, Investissement Quebec and the French CapHorn. In particular, the funds should enable Potloc to open an office in New York.
Bikes and Salmon for Power
The Bruxelles Lambert Group (GBL), in which Power Corporation is a 30% shareholder, has just crowned the American giants Carlyle and KKR to get their hands on the German bicycle manufacturer Canyon. In recent months, GBL has also invested in the important Norwegian salmon producer Mowi, in which it now has a 5% stake.
Haivision makes a splash on the stock market
Another Quebec company had a successful IPO this week. In three days, Haivision’s stock practically doubled to close yesterday at $ 11.90, adding more than $ 300 million to the company. Founded in 2004, Haivision specializes in solutions for video streaming.
They sell WSP
Three WSP Global executives recently pocketed total profits of over $ 750,000 by exercising stock options. The Quebec engineering firm hit a new high this week on the stock market and is now worth some $ 14 billion.
Fody raises $ 8.5 million
In a press release published only in English, the young Montreal startup Fody recently announced that it had raised $ 8.5 million from EDC and District Ventures. The company produces “stomach-friendly” foods for people with digestive disorders.
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 firstname.lastname@example.org 1-800-268-7116