bullish
Flagging a potentially interesting situation: IMAX China (HKG: 1970)
SUMMARY
IMAX Corp, listed on the NYSE, is a 71% shareholder of IMAX China, a HKEX listed subsidiary - in charge of the release of IMAX films in Greater China.
IMAX HK is rather illiquid - 7.15 HK is a mere $0.93 USD - with no investor presentations, no earnings calls - again, as is common with ideas in this blog, we are dealing with a company that is more or less “unownable” for most, flies under the radar, and therefore sports a, for a lack of a better word, shite valuation.
- Whilst IMAX Corp, the parent company, trades at ~8x EBITDA, the “backwater” subsidiary IMAX HK, trades at a mere ~5x EBITDA, despite margins being more than 10 pts higher.
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