International Value Advisers, LLC (IVA) recently increased their stake in HK-listed APT Satellite Holdings Limited (APT Satellite). According to a filing submitted to the Hong Kong Stock Exchange on November 20th, 2017, the firm bought 4,428,500 shares on the exchange at an average price of HKD 3.61 per share on November 15th (total consideration was ~US$2.05m). Post-purchase, IVA’s stake in APT Satellite increased from 5.97% to 6.44% of the company’s shares outstanding.
APT Satellite is a leading satellite operator in the Asia-Pacific region. The company currently owns and operates 5 in-orbit satellites covering regions in Asia, Europe, Africa, Australia and the Pacific Islands which contain ~75% of the world’s population. The company was founded in 1992.
IVA is an employee-owned investment manager. The firm invests in the public equity and fixed income markets across the globe on behalf of its clients. The key elements of their investment philosophy are: a search for fundamental (as opposed to relative) value, stock picking based upon rigorous, in-house research and a flexible, “go anywhere” approach to investing with a diverse asset class, geographic and capitalization mix. IVA was founded in 2007.