China Merchant Pacific Holdings (CMHP) recently announced their 4th quarter and full year results. This will be a short review of the results.
Current Share Price: $0.81
Outstanding Number of Shares: 1795 mil
Dividend per share: $0.07 (8.6% dividend yield)
In my last post on CMHP in June, it was during the time when the management did a combination of debt and rights issue at a price of $1.00 to purchase 3 expressways, Yang Ping, Guixing and Guiyang for HK$4 bil.
Since then the share price have fallen to around $0.80.
In the post, I voiced my reservations whether these roads will eventually turned out well and whether they can contribute adequately after the equity base expanded from 800 mil to 1200 mil to now 1800 mil.
The profile of CMHP have changed a fair bit.
