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David Webb Recommends Investors to Avoid ARTGO HOLDINGS (03313.HK)
2019-09-16 12:24:14
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.
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