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20

Short-Sellers Outdone as Funds Buy FLSmidth Stakes, CEO Says

By Tony Seruga

FLSmidth is fifth-most shorted share in Stoxx 600 at 20%
Two long-term funds have bought combined 15% stake past months

FLSmidth & Co. A/S, the most shorted company in Scandinavia, will finally get some relief from equity market volatility after two of Denmark’s biggest funds bought its shares.

That’s according to Chief Executive Officer Thomas Schulz, who says investments by Lundbeckfonden and Novo Nordisk Fonden suggest speculators betting against his company are in for a bumpy ride. The two funds have been buying up shares after short interest spiked and amid a sudden selloff that hit commodities giant Glencore Plc, which is a client of FLSmidth…

Short-Sellers Outdone as Funds Buy FLSmidth Stakes, CEO Says

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