NTAsian Discovery Master Fund (NTAsian) recently trimmed their stake in HK-listed Stelux Holdings International Ltd. (Stelux Holdings). According to a filing submitted to the Hong Kong Stock Exchange on February 1st, 2018, the firm sold 12,909,000 shares on the exchange at an average price of HKD 0.61 per share on February 1st (total consideration was ~US$1m). Following the sale, NTAsian’s stake in Stelux Holdings decreased from 5.18% to 3.95%.
Stelux Holdings engages in the retail and wholesale trade of watches and optical products in Hong Kong, Macau, Mainland China and the rest of Asia. The company operates its stores under the City Chain, Optical 88, and eGG Optical Boutique names. It was founded in Hong Kong in 1963 and listed on the Hong Kong Stock Exchange in 1972.
NTAsian is an absolute return, long only value fund, with a target to achieve 2-3 times the US long bond yield, i.e. 8-15% per annum. They invest long-term in primarily, but not exclusively, small to mid-cap stocks. The fund is offered by NTAsset, a boutique fund management company that invests only in Asian (excluding Japan) companies. The firm is based in Bangkok and led by John Thompson and Kenneth Ng.