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  5. PNP: Hi Peter, I was wondering if you have any more insight or opinions on Pinetree. [Pinetree Capital Ltd.]
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Q: Hi Peter,

I was wondering if you have any more insight or opinions on Pinetree. It continues to move higher.

Thanks
Asked by Frank on July 08, 2024
5i Research Answer:

The only news is PNP and L6 bought another 1.7% of Trubridge TBRG. Trading volume has picked up a bit, but not hugely. Interestingly, TBRG hasn't moved too much, since its 9% move when Gran Fondo (hedge fund) disclosed an interest and wanted to discuss board composition. PNP meanwhile has hit a high. PNP doesn't really have a history of taking over whole companies but one never knows. It still has substantial tax losses to utilize, so can make close to $400M in capital gains tax free. Since it has moved fairly slowly in the past, maybe it wants to speed up monetizing of these tax pools. 

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