Q: Could you please explain the CDPQ transaction ?
Thanks
Thanks
5i Research Answer:
The Caisse of Quebec owned 22.582M shares of WSP. It has decided to sell 2.88M of these shares. A broker group bought the whole block as a 'bought deal' for a quick transaction, and now sells the shares to clients. The offering price is $208, with the discount from yesterday seen as an enticement to buyers to reduce the brokers' risk of not selling the shares. WSP gets no money from this transaction and it represents about 12% of CDPQ's shares.