David Webb recently added to his stake in HK-listed Kingmaker Footwear Holdings (Kingmaker). According to a filing made to the Hong Kong Stock Exchange on March 20th, 2017, he purchased 50,000 shares on the exchange at an average price of HKD 2.08 per share on March 15th (total consideration was ~US$13k). Following the purchase, Webb’s stake in Kingmaker increased slightly to 6.00% of the company’s shares outstanding.

Kingmaker is a footwear manufacturer for international shoe brands including ASICS, Clarks, New Balance, Skechers and Wolverine. Based on their last annual report, the company had a total of 41 production lines across Vietnam, Cambodia and China. Over time, management expects 80% of the company’s production capacity will be relocated to Southeast Asia. Kingmaker has been listed on the Hong Kong Stock Exchange since 1994 and currently has a market cap of ~US$190m.

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.