Hillhouse Capital Management (Hillhouse) recently disclosed a stake in Hong Kong-listed China Tower Corporation Limited (China Tower). According to a filing submitted to the Hong Kong Stock Exchange on August 13th, 2018, Hillhouse bought 2,522,704,000 shares on the exchange at an average price of HKD 1.2601 per share on August 8th (the total consideration was ~US$400m). […]

Brandes Investment Partners (Brandes) recently added to their stake in Hong Kong-listed First Pacific Company Limited (First Pacific). Based on a filing submitted to the Hong Kong Stock Exchange on August 8th, 2018, Brandes bought 3,514,262 shares on the exchange at an average price of HKD 3.62 per share on August 6th (the total consideration was ~US$1.6m). […]

Karst Peak Capital Limited (Karst Peak) has reported a notifiable interest in Qeeka Home (Qeeka). The shares were purchased through participation in Qeeka’s recent initial public offering. Based on Karst Peak’s filing dated 19th July, 2018, they own a ~5.35% stake in the company. The 64.7m shares were acquired at an average price of HKD […]

Hermes Investment Management Ltd (Hermes) recently acquired a notifiable interest in the shares of HK-listed COSCO SHIPPING Ports Limited (COSCO SHIPPING Ports). According to a filing submitted to the Hong Kong Stock Exchange on June 21st, 2018, the firm bought 516,000 shares on the exchange at an average price of HKD 7.0638 on June 20th. […]

Wykeham Capital Limited (Wykeham) increased their stake in HK-listed Tongda Hong Tai Holdings Ltd. (Tongda). According to a filing submitted to the Hong Kong Stock Exchange on June 19th, 2018, Wykeham bought 55,000 shares on the exchange at an average price of HKD 1.6527 per share on June 13th. Following the purchase, Wykeham’s stake in the company increased from […]

Muddy Waters have published a short report on TAL Education Group (TAL Education), calling it a “real business” with fake financials. They say the company has been fraudulently overstating its profits since at least FY 2016. Muddy Waters believes the fraud pervades the core Peiyou business and is migrating into TAL Education’s online businesses. You can […]

The team at Evermore Global Value Fund recently published their commentary for Q1 2018. You can read the full letter here. Evermore Global Advisors, LLC was established in 2009 by David Marcus and Eric LeGoff. The founders previously worked for / with Michael F. Price at Mutual Series. The letter includes some commentary on Universal Entertainment, […]

Rashmi Kwatra, the founder and CIO of Sixteenth Street Capital, was recently interviewed on CNBC following her presentation at the 2018 Next Wave Sohn New York Investment Conference (you can find some notes / highlights from the conference here). Given the interview is only ~6 minutes long, it’s not a particularly deep conversation, but it […]

Blue Orca Capital (Blue Orca) have published a short report on Samsonite International (Samsonite), highlighting the company’s “questionable accounting practices and poor corporate governance.” You can download the report via their website – for ease of reference, it is also embedded below. Blue Orca writes that Samsonite has “concealed slowing growth through debt fueled acquisitions […]

Brandes Investment Partners (Brandes) recently acquired a notifiable interest in Hong Kong-listed PAX Global Technology Limited (PAX Global). Based on a filing submitted to the Hong Kong Stock Exchange on May 23rd, 2018, Brandes bought 921,000 shares on the exchange at an average price of HKD 3.47 per share on May 21st (the total consideration was […]