And the power of illiquidity
You are also relying upon the beneficence of a super-majority Chinese owner (80%) , who would have considerable latitude on self-dealing , management charges property transactions and the like. All this would take place outside the U.S. legal system with indeterminate local protections and too small a float to justify much in the way of minority self-protection . Maybe it's OK. Sounds appropriately discounted to me.
Sky New Zealand is a great example of illiquidity as well. Decent company, incredibly cheap, but also very illiquid. It pays a decent dividend.
Nice idea, thank you for sharing. Were you able to find the full financials statements in English?
Why did AIER never complete the purchase and stop at 80%?
Interesting idea - how do we buy the shares (ie via which broker) ?
Hi Dave, thanks for sharing. Do you have the financials since its IPO? The links on the website are broken. Do you expect some cyclicality? Just seeing the stock perf in 2007-2008, as well as Seeking Alpha writeups on LCAV, a former laser eye surgeon in the US.
Really interesting company!!
What do you think may be the reasons to leave just 5% of shares in public hands and not to take the company private?? Specifically taking into account the costs, control and administrative burdens that public companies bear.