China Everbright (formerly: HanKore Environmental Tech Group)

[yawnyawn]

Compare to P/B valuation on water treatment industry, the P/B ratio look quite attractive on current price at a price of $1.2.

If is can drop to below $1, i would say it a steal.

My calculation shows BV post-rto to be S$0.36 when HK$1.2B of debt is waived off by CEI.

If Hankore's price is $1.20, it will be trading at 3.4x BV. Not cheap if we comapare to its peers like SIIC or UnitedEnvirotech on SGX.

I have sold my Hankore's shares at a loss. Pretty disappointed with the huge dilution.

At 1.04, it is priced at 2.9x BV post-rto.