The recent downtrend of the company puts me into the buying radar zone and I managed to purchase 230,000 shares of the company today at a share price of $0.415.
This purchase immediately made this into my top 3 holdings.
You might have recalled that earlier in the year I managed to purchase this at a lower discount at 34 cents (Link Here) when there is still all the ongoing saga about the revolt of the management, and since then a lot of things have happened.
This is a special play situation.
My main thesis of buying into this stems from the fact that E-Shang Redwood (ESR) has now emerged into a substantial shareholder with more than 5% stake.
And of course I think valuation came to an attractive level too.
Do note that ESR currently holds 80% stake in the formerly known Cambridge Industrial Trust and …