The Investment Reporter, in its Aug. 21, 2015, issue, comments on Gildan Activewear Inc., recently $43.08. The Reporter said buy 10 times from Oct. 4, 2000, to Aug. 14, 2015, at prices ranging from $18.02 to $65.21 (the stock split 2 for 1 on May 18, 2005, May 16, 2007, and, most recently, March 30, 2015). Assuming an investment of $1,000 for each of the 10 buys, the $10,000 position would now be worth $37,867. Gildan founder and chief executive officer Glenn Chamandy plans to sell up to four million of his shares next year. He will do this by way of a bought deal, whereby a financial institution will buy the shares from Mr. Chamandy and sell them at a higher price. The Reporter recommends telling your broker you would like to buy. One advantage with bought deals is that you can buy these shares without paying any brokerage fees or the usual bid-ask spread. Following the sale, Mr. Chamandy will continue to own 8.4 million shares. He is selling the shares to diversify for estate planning purposes.
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