Maple Rock Capital slashes Optiva stake ahead of Qvantel’s private takeover
Maple Rock Capital Partners Inc. has reduced its stake in Optiva Inc. after selling over a million shares. The investment firm now holds just 1.4% of the company’s outstanding stock. This move follows Optiva’s planned acquisition by Qvantel, which will take the firm private.
Before the recent sale, Maple Rock owned 1,312,215 shares in Optiva Inc. This represented roughly 21.1% of the company’s total shares. The firm acted as a portfolio manager, holding the stock on behalf of its managed accounts.
In a recent transaction, Maple Rock sold 1,222,591 shares. This reduced its holdings to 89,624 shares, or about 1.4% of Optiva’s issued stock. The firm has also filed an early warning report to disclose these changes. The sale comes as Optiva Inc. prepares to go private under Qvantel’s acquisition. Maple Rock has indicated it plans to sell its remaining shares as part of this deal.
Maple Rock’s shareholding in Optiva Inc. has dropped significantly from 21.1% to 1.4%. The firm will offload its last shares once the Qvantel acquisition completes. This marks the end of Maple Rock’s investment in the company.
