Trading Places: More investors follow WiseTech founder into Kyckr

Trading Places is Stockhead’s weekly recap of substantial holder movements focusing on fund managers.

Substantial shareholders are shareholders holding 5 per cent or more of a company’s shares and these can be directors, individual investors or institutional investors.

Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold and any change in their holdings while they remain above 5 per cent.

Buyers

If you want to be Australia’s next tech success story there’s no better endorsement than someone who’s been there and done that investing in you. WiseTech’s (ASX:WTC) Richard White bought nearly 20 per cent of Kyckr (ASX:KYK) by partaking in a $5.2m capital raise.

He invested a total of $2.97m. A week on, his stake is worth $12.1m as shareholders followed his lead. Regal Funds Management also got in, buying a 5.07 per cent stake.

Regal also bought 5.9 per cent of Quickstep Holdings (ASX:QHL) and DGO Gold (ASX:DGO).

Spheria has been continuing to buy A2B Australia (ASX:A2B) shares. It now owns 17.23 per cent of this company, once a large cap known as Cabcharge.

Vinva Asset Management bought 5.19 per cent of Baby Bunting (ASX:BBN),while Selector Funds Management topped up its holdings in OFX Group (ASX:OFX) to 8.58 per cent.

Paradice Investment Management became a substantial holder of Probiotec (ASX:PBP), putting $9m into the stock for an 8.78 per cent stake.

IOOF became a substantial holder of global traffic networking stock GTN (ASX:GTN) with a 5.31 per cent stake and it increased its holdings in Alliance Aviation (ASX:AVQ) to 12.93 per cent.

Davenport Resources (ASX:DAV) welcomed two substantial holders which now own over 15 per cent between them. First was Victoria-based resources investor Lions Bay Capital and second German institutional investor Delphi.

2019’s hottest IPO, Uniti Group (ASX:UWL), raised $100m to fund its latest acquisition. Its only two substantial holders, Cornish Group Investments and Capital J Investments, both took up their rights but their stakes decreased to 9.25 per cent and 5.76 per cent, respectively.

Sellers

IOOF halved its holdings in Kyckr from 13.4 per cent to 6.34 per cent. It also cut its stake in Amaysim (ASX:AYS), which has more than halved since mid-July after disappointing results.

Regal decreased its stake in Droneshield (ASX:DRO) and Alpha HPA (ASX:A4N).

Rhythm Biosciences’ (ASX:RHY) largest shareholder, Merchants Funds Management cut its stake to 6.5 per cent.

Big River Gold (ASX:BRV) sold out of Meteoric Resources (ASX:MEI) for $2.75m. Big River received the shares as compensation for the sale of its projects to Meteoric. It was able to negotiate an early release from escrow to sell the shares.