bedger a positive from JP Morgan's substantial shareholder notice is the disclosure of ADIA's name for the first time!!!!
"The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi in the United Arab Emirates, founded to invest funds on behalf of the Government of Abu Dhabi. It manages the emirate's excess oil reserves and manages greater than $1 trillion USD."
bedger I would say that ADIA bought their Mesoblast (MSB) shares in the $2.50 placement and importantly they are long term investors. They do lend stock holdings out through custodians to earn additional income for their funds and on 4th April they signed a stock lending agreement with JPMorgan.
Other banks to borrow Mesoblast shares from JPMorgan in this announcement are:
Barclays Captal Securities March Macquarie Bank April/May Citigroup Global Markets March Merrill Lynch Equities (Australia) April Morgan Stanley & Co International April/May
JPMorgan also borrows MSB from other banks (UBS Switzerland, State Street, Trust Company) and has institutional settlement arrangements with a number of brokers / hedge funds in the US as well.
It is difficult to work out JPMorgan clients actual net long position as many of the stocking lending agreements retain voting rights!
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