JP Morgan AM takes short position in Canal+ months after banking arm worked on IPO

Following float in December

The asset management arm of JP Morgan (JPMAM) has shorted shares in the French film and television production company Canal+ just months after the company’s investment banking division worked on the £2.9bn IPO.

JP Morgan Chase was one of several banks that advised on the floatation on the London Stock Exchange, which marked the largest IPO on London's markets in more than two years.  However, since launch, the French film giant has seen its share price slide, dropping from highs of 299p to around 190p at the time of reporting, according to data from MarketWatch.  Canal+ crosses Channel to list on the London Stock Exchange following disbanding of Vivendi Now, JPMAM is betting on that share price ailing further, as it hopes to cash in on the decline. According to the Financial Conduct Autho...