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David Webb Recommends Investors to Avoid ARTGO HOLDINGS (03313.HK)
David Webb recommended investors on blog that they should avoid ARTGO HOLDINGS (03313.HK). Webb elaborated that the company has issued news shares for two acquisitions since the mid-year with the issue price of $0.81 per share for both acquisitions.
The article illustrated that the company has a net tangible assets of $1.23 billion, accounting the above acquisitions on top of the total net tangible assets of RMB931 million at end-June. Thus, the stock is trading at about 24x net tangible assets.
The company has not paid any dividend since listing at end-December 2013.
AAStocks Financial News
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