China Env Energy (0986) pays HK$113m for 1.73% of L & A (8195)

The average price per share was $1.62. At 31-Dec-2014, L & A had equity of $136.73m, or $0.034 per share. So the price is about 48x book value of the OEM cashmere clothing maker. In our view, China Env Energy has just invested in another bubble, following its investment in Suncorp (1063). The question is, why?

Organisations

China Environmental Energy Investment Limited 中國環保能源投資有限公司
Legendary Education Group Limited 傳承教育集團有限公司

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Bubble/concentration warnings

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