APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/10665" target="_blank" data-smartkarma-citation="entities:10665:1">Cosco Capital Inc (COSCO PM)</a> was at its record discount to NAV when we first wrote on it mid-2016. Discount to NAV has since then narrowed, but it was mostly driven by the decline of Puregold from August to December 2016.</p><p>In this insight, we will focus on analyzing Cosco Capital's under-appreciated operating assets and how they have been performing.</p>

Cosco Capital Inc (COSCO PM) was at its record discount to NAV when we first wrote on it mid-2016. Discount to NAV has since then narrowed, but it was mostly driven by the decline of Puregold from August to December 2016.In this insight, we will focus on analyzing Cosco Capital's under-appreciated operating assets and how they have been performing.

Cosco Capital - Unlisted Operating Assets Remain Under-Appreciated