Nam Tai Property (NTP) has generated a 10 year return of about zero despite consistently bullish online commentary I resisted buying NTP due to flaws in the bullish arguments, but took a fresh look due to recent involvement of an activist shareholder, ISZO Capital. Here's a brief recap of some underappreciated aspects of the story … Continue reading Nam Tai Property: Complicated Plots
Chinese internet holding company SINA released the preliminary proxy statement for its $43.30/share privatization. The price is well below the company's 6/30 asset value of approximately $68/share, but the buyout will certainly be approved because SINA's Chairman Chao controls 61% of the voting rights. The deal process and transaction terms illustrate some risks that investors … Continue reading SINA Privatization Proxy – It’s An Unfair Deal And There’s Nothing You Can Do About It
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