Aug 19 Activist investor Orange Capital LLC said
it would ask oil and gas company Bellatrix Exploration Ltd
to consider strategic alternatives after it became the
largest shareholder in the Canadian company.
Bellatrix's shares rose as much as 7.6 percent after New
York-based Orange Capital reported a 5.3 percent in the company.
The hedge fund also wants to discuss about the size and
composition of Bellatrix board and a possible IPO or sale of the
company's midstream assets, a regulatory filing showed on
Orange Capital said Bellatrix's valuation was well below its
intermediate industry peers in the Canadian exploration and
The stock is trading about three times above its intrinsic
value - a measure of the stock's worth over 15 years, according
to Thomson Reuters StarMine.
Calgary, Alberta-based Bellatrix's shares were trading at
C$8.48 in morning trade on the Toronto Stock Exchange.
(Reporting By Shubhankar Chakravorty in Bangalore; Editing by