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Hedge fund Millennium’s €126m Porsche short signals bearish bet on IPO
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Ahead of Volkswagen’s IPO of Porsche AG in a few weeks, hedge fund Millennium International Management has built a large short position in Porsche SE.
According to data from research firm Breakout Point, Millennium disclosed a position representing 0.6% of the company's shares on 14 September. A rough estimate based on current market capitalisation would see the hedge fund’s short position at around €126m.
Ivan...
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