Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

China Conch Venture Holdings / Event-Driven

After the close of market yesterday, Bloomberg reported that Conch Venture Investments (CV Investments) will sell 50mn shares in <a href="https://www.smartkarma.com/entities/389" target="_blank" data-smartkarma-citation="entities:389:1">Anhui Conch Cement Co Ltd A (600585 CH)</a>.  This was confirmed by a Shanghai Stock Exchange <a href="http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2017-06-14/600585_20170614_1.pdf" target="_blank">announcement</a>.Although the sale is not being done by <a href="https://www.smartkarma.com/entities/19943" target="_blank" data-smartkarma-citation="entities:19943:1">China Conch Venture Holdings Ltd (586 HK) (CCV)</a>, it is worth revisiting CCV as it currently trades at a 12-month low to its NAV. Stripping out the holdings in Anhui and <a href="https://www.smartkarma.com/entities/13008" target="_blank" data-smartkarma-citation="entities:13008:1">Wuhu Conch Profiles And Science Co., Ltd (000619 CH)</a> plus the current cash on hand, no value is assigned by the market for stub ops. In this brief note below the fold is a breakdown of our NAV and various comments on how best to approach the current discount.

After the close of market yesterday, Bloomberg reported that Conch Venture Investments (CV Investments) will sell 50mn shares in Anhui Conch Cement Co Ltd A (600585 CH).  This was confirmed by a Shanghai Stock Exchange announcement.Although the sale is not being done by China Conch Venture Holdings Ltd (586 HK) (CCV), it is worth revisiting CCV as it currently trades at a 12-month low to its NAV. Stripping out the holdings in Anhui and Wuhu Conch Profiles And Science Co., Ltd (000619 CH) plus the current cash on hand, no value is assigned by the market for stub ops. In this brief note below the fold is a breakdown of our NAV and various comments on how best to approach the current discount.

China

Wuhu Conch Profiles and Science Co., Ltd. manufactures a variety of building materials including plastic, wooden, and metal materials.  The Company mainly produces polyvinyl chloride (PVC) section bars used for windows and doors.

Wuhu Conch Profiles And Science Co., (000619 CH)

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Wuhu Conch Profiles And Science Co., (000619 CH)

China Conch Venture - Free Rump Stake

After the close of market yesterday, Bloomberg reported that Conch Venture Investments (CV Investments) will sell 50mn shares in Anhui Conch Cement...

David Blennerhassett

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52-week Range

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