Asian Growth Properties5 Jan 2016 00:17
What is the purpose of the Asian Growth Properties (AGP) listing on the AIM? AGP is 97% owned by Hong Kong based SEA Holdings which is separately listed on the HKEx. Apart from a few other relatively minor investments SEA's total assets comprise of its investment in AGP. AGP and SEA are therefore virtually mirror companies. SEA shares trade on the HK exchange in the $HK12-13 range, being approx. 70% of net asset value. AGP shares are quoted on the AIM at 14-17p, a mere 11-13% of NAV. Am I missing something here?