Closed-end fund activism spread to HK with the ongoing battle between ASM and CMCDI. Given ASM's track record, it has a decent chance of pushing CMCDI's manager to agree to reduce the NAV discount.
What is covered in the Full Insight:
Introduction to CMCDI Battle
Who is ASM?
ASM vs. Victor Chu
ASM and Lazard's Stake
Endgame Scenarios
Boomeranged on Fri, 21 Jun 2024 06:29
CMCDI's AGM was held yesterday, where Elizabeth Kan survived the vote with a razor-thin margin. The outcome demonstrated ASM's ability to mobilize other minority shareholders and its now bargaining power.
SUMMARY
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