It was another good day in the markets. One of our favorites, Canadian Tire was up 2.3%. Melcor has slipped a bit lately and is definitely worth considering at around $15.
Constellation Software’s secondary offering of shares (it was OMERs private equity and not the company itself that was selling shares) closed today. I understand the shares were sold at $87.50 as planned with net $84 to OMERs. TD Securities was listed as one of the selling brokers but this offer did not show up on TD (at least not yet).
I know the brokers have bought the shares at $84 and I believe that the shares were quickly sold to investors at %$87.50. As a result of that Constellation did get as low as $87.75 today. It closed at $88.61. When I placed my order it was already a bit above $87.75, which I was prepared to pay. I then decided to get cute and place my order at $87.60 and as a result I did not buy any shares. And barring general market weakness there may be no reason for me to expect to get any at that price, but I will likely leave my order open for a while and see.
I thought better of buying more Shaw Communications since I have a good amount already.