Nigel Stevenson, CFA
Research analyst, value, special situations

Great Eagle: A Bargain At Half Its SOTP Valuation

Great Eagle Holdings (OTCPK:GEAHF) (0041.HK) is a Hong Kong-listed holding company with a market cap of around HK$17bn (US$2.2bn). Its shares trade on an OTC basis in the US, although they are much more liquid in Hong Kong. At the current share price, I believe Great Eagle represents a genuine bargain: its shares are trading at a discount of 54% to my sum-of-the-parts valuation and the company has net cash equal to nearly half its market cap.


The company has controlling shareholdings in two Hong Kong-listed property companies. It owns 58% of Champion REIT (OTC:CMPNF), which has prime office and retail properties in Hong Kong. I recently wrote a detailed article about Champion, which...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
  • Access Top Ideas, chosen by Seeking Alpha’s editors
  • Filter long and short ideas by market cap and sector
  • Get Coverage of over 5,000 stocks, many of which have little or no coverage elsewhere
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO." Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else." Patrick Rice, Mainstay Capital Management
100% Satisfaction Guaranteed
Money back guarantee. Seeking Alpha PRO members receive a no-questions-asked refund for membership on months paid and not used. Details