David Webb recently added to his stake in HK-listed Win Hanverky Holdings (Win Hanverky). According to a filing made to the Hong Kong Stock Exchange on March 29th, 2017, he purchased 1,514,000 shares on the exchange at an average price of HKD 1.15 per share on March 24th (total consideration was ~US$222,000). Following the purchase, Webb’s stake in Win Hanverky increased from 4.99% to 5.10% of the company’s shares outstanding.
Win Hanverky is an integrated sportswear manufacturer, distributor and retailer for various top-tier international sportswear brands. It is also a retailer of high-end fashion products. The company currently has a market capitalisation of ~US$192m with a cash balance of ~US$53m (28% of its market cap). The company’s full year 2016 results and investor presentation are available for download here.
David Webb is a private investor who has lived in Hong Kong since 1991. He is a former investment banker and currently runs the Webb-site, which provides reports and independent opinions with a primary focus on Hong Kong affairs. He is also a shareholder in 1010 Printing and Ming Fai.