5 Comments
Apr 2·edited Apr 3

"long NVC International (HKG:2222) at an average price of 8 cents per share."

How did you buy 2222.HK at HK$ 0.08/share when the price range in the month preceding July/24/2023 publication was in a range of HK$0.66-0.96?

Was the "8 cents" referring to a USD equivalent?

https://tinyurl.com/47hjyatv

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Apr 2Author

No HK$, now equivalent to HK$ 0.8 (due to 10:1 stock split last year).

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Noted there was a 1:10 reverse split since that post!

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Perhaps stupid question but what is to stop extreme shareholder oppression here, eg continued issuance of shares and dilution? I note the announcement today : https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0915/2023091500388.pdf but from a quick review of past annoucements it seems like this is a controlled company that cares little about decorum eg what look like attempts by ETI to get a non-exec on the board?

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There is no one party that controls the company, so I think that makes it difficult to dilute minority holders into oblivion. And by the looks of it, elec-tech is a money losing company with declining revenues that is in liquidation. So they need the cash. Follow the incentives basically. And there is some evidence already that this co is willing to pay special dividends after receiving sales proceeds.

Even without a special dividend, say there is just a sale, and co holds about $0.6-.65/share in net cash, if it trades at 25% of net cash, that is still a double from here.

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