Activism Takes On CMCDI (133 HK)

800 Views27 May 2024 06:51

Shares are off ~7% since touching a six-year high last week. CMCDI is still cheap. If small, illiquid names, with a activism bent are your thing, I'd be picking shares up around here.

What is covered in the Full Insight:

Shareholder Activism
Investment Management Agreement
Annual General Meeting Updates
Stakeholder Analysis
Net Asset Value (NAV)

Boomeranged on Tue, 28 May 2024 23:50

This in interesting. As per my note, Lazard held 15.89%. Lazard's latest disclosure states they've cleared 14%, paying $14.67/share, implying they sold through 15% and 14% at some juncture, presumably at a lower price to here; only to buy back again significantly higher. That is a positive move on the back of Argyle/Rydal's activism. I wouldn't be surprised to see Argyle also add to its stake.

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