Bpifrance's Valneva Stake Dips Following Company Share Sale

Investing

Published: November 17, 2022 3:53 am

Last Updated: November 17, 2022 12:22 pm

Fintel reports that Bpifrance Participations SA has filed a 13D form with the SEC disclosing ownership of 11,616,821 shares of Valneva (US:VALN, FR:VLA), or 8.4% of the company.

In their previous filing dated February 10, 2022, they reported 9,501,441 shares and 9.00% of the company, an increase in shares of 22.26% and a decrease in total ownership of 0.60% (calculated as current – previous percent ownership).

In October, the dual-listed specialty vaccine company closed a 21 million ordinary share sale to specific investors. The sale included 375,000 American depositary shares (“ADSs”), each representing two ordinary shares, in the US at $9.51 per ADS. It also privately placed 20.3 million ordinary shares in Europe at 4.9 euros each.

The company said the sale raised $100 million.

What are other large shareholders doing?

General American Investors Co Inc holds 375,000 shares.

Bank of America Corp /de/ owns 26,273 shares.

Laurion Capital Management LP owns 25,000 shares.

Morgan Stanley owns 5,263 shares.

Advisor Group Holdings, Inc. holds 1,450 shares.

What is the overall institutional sentiment?

There are 15 funds or institutions reporting positions in Valneva SE. This is an increase of 2 owner(s) or 15.38%.

Average portfolio weight of all funds dedicated to Valneva SE is 0.1323%, an increase of 18.8300%. Total shares owned by institutions increased in the last three months by 300.24% to 485,081 shares.

Based on this information, institutional sentiment is bullish.

This article originally appeared on Fintel

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