International Value Advisers, LLC (IVA) recently increased their stake in HK-listed Asia Satellite Telecommunications Holdings Ltd (AsiaSat). According to a filing submitted to the Hong Kong Stock Exchange on November 16th, 2018, the firm bought 4,640,000 shares on the exchange at an average price of HKD 5.12 per share on November 13th (total consideration was ~US$3m).  Following the purchase, IVA’s stake in AsiaSat increased from 4.94% to 6.12% of the company’s shares outstanding.

AsiaSat is the leading satellite operator in Asia, serveing over two-thirds of the world’s population with its seven satellites. The company’s satellite fleet serves both the broadcast and telecom sectors, providing access to more than 830m TV households, and network and data connectivity services across the Asia-Pacific region.

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.