CEO of Norway’s Wealth Fund Has Too Much Cash for Banks (Bloomberg)
(Bloomberg) — Norway’s banks can’t absorb the hundreds of millions of dollars in cash that the new CEO of the country’s wealth fund needs to deposit as part of an agreement he struck to allow him to take on the role. Nicolai Tangen, who started running the world’s biggest sovereign investor last month, agreed to liquidate his personal fund investments and place the proceeds in bank deposits as part of his contract. The intention was to ensure that the former hedge fund manager wasn’t exposed to any conflicts of interest through his holdings.
Activist hedge fund Sarissa Capital’s healthcare SPAC Sarissa Capital Acquisition files for a $175 million IPO (Nasdaq.com)
Sarissa Capital Acquisition, a blank check company formed by Sarissa Capital Management, filed on Wednesday with the SEC to raise up to $175 million in an initial public offering. The Greenwich, CT-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Sarissa Capital Acquisition would command a market value of $219 million.
Beigene (BGNE) CEO John Oyler Sold $15.2 million of Shares (Guru Focus)
CEO of Beigene, John Oyler, sold 54,303 shares of BGNE on 09/29/2020 at an average price of $280.39 a share. The total sale was $15.2 million. BeiGene Ltd is a biopharmaceutical company engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer.
The Chief Operating Officer of Colliers International Group (NASDAQ: CIGI) is Selling Shares (Analyst Ratings)
Today, the Chief Operating Officer of Colliers International Group (CIGI), John B Friedrichsen, sold shares of CIGI for $798K. Currently, Colliers International Group has an average volume of 210.24K. The insider sentiment on Colliers International Group has been negative according to 34 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
Sherwin-williams Co (SHW) Chairman and CEO John G Morikis Sold $15.8 million of Shares (Guru Focus)
Chairman and CEO of Sherwin-williams Co., John G Morikis, sold 22,282 shares of SHW on 09/28/2020 at an average price of $708.18 a share. The total sale was $15.8 million. Sherwin-Williams Co provides architectural paint and paint related products; and provides coatings for original-equipment manufacturers. It conducts its operations in North and South America, the Caribbean region, Europe, Asia, and Australia.
Former Amazon Finance Manager and Family Charged with $1.4m Insider Trading Scheme (ZDNet.com)
The US Securities and Exchange Commission (SEC) has charged a former Amazon finance manager with insider trading. On Monday, the regulatory watchdog said that from at least January 2016 to July 2018, Laksha Bohra conducted securities trading based on confidential information she had access to as a member of the e-commerce giant’s tax department. The senior manager was involved in preparing and reviewing financial statements included in Amazon’s quarterly earnings. Bohra allegedly leveraged this knowledge to play the market in what is known as insider trading in order to reap “illicit profits,” according to SEC.
