Phoenix New Media: Yidian Sale Amendment (revised)

Posted on by John Sheehy

Note: this article was revised 7/25 to incorporate details from the amended sale agreement filed by Phoenix TV( LINK) Phoenix New Media (凤凰新媒体) announced that terms for the $448mm sale of its stake in news aggregator Yidian Zixun (一点资讯) have been amended (LINK).  Key terms: Sales proceeds of $448mm and estimated net proceeds of $409mm … Continue reading Phoenix New Media: Yidian Sale Amendment (revised)

Ossen Innovation: 59% of parent company earnings, but only 4% of parent market cap

Posted on by John Sheehy

Pujiang International, the 66% owner of specialty steel maker Ossen Innovation, listed on the Hong Kong Stock Exchange in May 2019 Ossen Innovation provides 59% of Pujiang's earnings and 56% of its net assets Pujiang has a market cap of US$362mm and is valued at 21 P/E and 1.7 P/B Ossen has a market cap … Continue reading Ossen Innovation: 59% of parent company earnings, but only 4% of parent market cap