Champion REIT (OTC:CMPNF) (2778.HK) is a Hong Kong-listed real estate investment trust, spun off from Great Eagle Holdings (OTC:GEAHF) in 2006. It is the second largest Hong Kong REIT with a market value of HK$20bn (US$2.6bn). Great Eagle has retained a controlling shareholding, currently around 58%. Whilst the stock trades in the US on the OTC market, it is very illiquid. It is currently trading at a discount to NAV of 56%. Does this represent a bargain? Or are there good reasons for such a high discount?
Champion owns two assets: Citibank Plaza, located in Hong Kong's Central financial district, which comprises two office towers, as well as associated retail space; and Langham Place, a...
Only subscribers can access this article, which is part of the PRO research library covering 3,618 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: