Toronto-based hedge fund firm Donville Kent Asset Management said Reitmans Canada Ltd would make good use of capital if it eliminated its dual-class share...
TORONTO - Toronto-based hedge fund firm Donville Kent Asset Management said Reitmans Canada Ltd would make good use of capital if it eliminated its dual-class share structure and bought back stock, resulting in the Reitman family regaining control, according to a letter seen by Reuters.
"The stock appears to be undervalued by a factor of 2.5 to 3 times," the letter said. Donville Kent holds more than 5% of voting shares in Reitmans, Gamble told Reuters."We believe many boards and management teams don’t understand the importance of being on the TSX main board," Gamble added.
The founder of Chinese property developer Evergrande — who was once Asia's second-richest person — is no longer a billionaire
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