In today’s briefing:
- StubWorld: Swire Pac Trading “Rich” As Props Announces Big Write-Down
- HK CEO & Director Dealings (29 Dec 2023): Li Ning, Meitu
StubWorld: Swire Pac Trading “Rich” As Props Announces Big Write-Down
- Swire Pacific (19 HK)‘s NAV discount has narrowed, and implied stub widened, after announcing its latest buyback. Separately, Swire Properties (1972 HK) flagged a HK$4.5bn writedown on its investment property.
- Preceding my comments on Swire are the current setup/unwind tables for Asia-Pacific Holdcos.
- These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.
HK CEO & Director Dealings (29 Dec 2023): Li Ning, Meitu
- The data in this insight is collated from the “shareholding disclosure” link on the HKEx website
- Often there is a corresponding HKEx announcement on the increase – or decrease – in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.
- The key stocks mentioned in this regular insight is Li Ning (2331 HK) and Meitu Inc (1357 HK).
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