from Reuters:
"CATL bought its 4.9% holding for A$0.30 cents a share in the depths of the 2019 lithium downturn. It sold the stake, representing 146 million shares, in a block trade at A$4.10 per share, netting CATL A$555 million from its original investment. Goldman Sachs and UBS were bookrunners on the deal"
sachs and ubs, two of the big 5 hedge funds would have had the shares on loan from catl from the start. catl would have reaped a 5-10% return on the shares at the end of each 12 month lease.
where's the 5% gone? probably a multinational miner who will keep the same deal running with the hedge funds but this time it will be the miner who is accumulating shares when they all decide on their next big short con.
same old, same old
from Reuters:"CATL bought its 4.9% holding for A$0.30 cents a...
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