Blue Ridge Capital, managed by John Griffin, has disclosed a new stake in Platform Specialty Products Corporation (NYSE:PAH). The position contains around 8.0 million shares, equal to 7.72% of the common stock of the company.
Platform Specialty Products Corporation (NYSE:PAH), started trading on the NYSE on January 23, produces high-tech specialty chemical products. The company previously was listed on the London Stock Exchange.
Platform Specialty Products Corporation (NYSE:PAH) produces a variety of chemicals from raw materials, and sells chemicals to industries as diverse as graphic arts, electronics, and offshore oil and drilling. The company refers its products as ‘dynamic chemistries’ due to their delicate chemical compositions, which are altered during customer use.
Last month, Bill Ackman‘s Pershing Square disclosed that it owns 29.1 million shares of Platform Specialty Products Corporation (NYSE:PAH) represent 22% of all outstanding stock and 4.1 million warrants with a conversion price of $11.5. A couple of months ago, Pershing Square revealed decreasing its position in Platform Specialty Products Corp (LON:PAH) to 66.4 million in voting rights of the company, equal to 64.88% of the class, down from 75.07% held earlier.
At the end of September 2013, Blue Ridge Capital had 4.88% of its equity portfolio invested in Priceline.com Inc (NASDAQ:PCLN), owning 404,000 shares. On the second spot in Blue Ridge Capital’s equity portfolio was American International Group Inc (NYSE:AIG), in which the fund held 7.34 million shares, worth $356.36 million. In Thermo Fisher Scientific Inc. (NYSE:TMO), the fund reported ownership of 3.7 million shares.