By Tabinda Hussain
ValueWalk
Finland is not exactly the most exciting place for hedge funds, except for Tiger cubs who are shorting Nokia Corporation in a pack. But another crowded short bet that is gaining some high profile shortsellers is Outotec Oyj, a Finnish company that provides services in the mining and metallurgic business. David Einhorn’s Greenlight Capital has also established a short position in the company — the fund started shorting Outotec in mid-July and has now increased its position to 1.64% of Outotec‘s shares, one of the largest short bets disclosed on Outotec, and equal to around $40 million.
Other notable bets against Outotec have been placed by Maverick Capital, Marshall Wace, Israel Englander’s Millennium Capital and Citadel. The total short interest disclosed to the Finnish regulatory authority is equal to 12.6% of Outotec’s outstanding shares. The largest bet has been placed by Lee Ainslie’s Maverick Capital which is holding 2.9% of Outotec’s shares short.