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Dublin-based hedge fund builds stake in Adapt IT
Adapt IT’s head office in Midrand, Johannesburg
Who is buying JSE-listed Adapt IT shares at or above the R6.50/share offer price tabled earlier this month by Canada’s Volaris Group? A disclosure by Adapt IT to investors on Friday may have shed some light on this question.
Blacksheep Master Fund, controlled by Dublin, Ireland-based hedge fund manager Blacksheep Fund Management, has in recent weeks acquired almost 10 million Adapt IT shares, or 7.2% of the number of securities in issue, excluding shares held in the company’s treasury (6.28% including the treasury shares).