In this briefing:
1. StubWorld: Hang Lung’s Implied Stub At Extreme Levels
This week in StubWorld …
- Hang Lung (10 HK) has lagged 57.6%-held Hang Lung Properties (101 HK) after announcing full-year results, resulting in the implied stub touching 2 STD away from the average.
- An update on Intouch Holdings (INTUCH TB)‘s stub investments via its venture capital arm, InVent.
Preceding my comments on HLG and Intouch are the weekly setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity threshold of US$1mn on a 90-day moving average, and a % market capitalisation threshold – the $ value of the holding/opco held, over the parent’s market capitalisation, expressed in percent – of at least 20%.
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