Looks like Black Crane are the mysterios 'Beneficial Owner'. They purchased 3.3M shares on 30 March and 7M shares on 31 March. Same as declared in the UBS announcement.
The founder of Black Crane is ex-UBS so I guess his Hong Kong based fund has a brokerage account with UBS.
Looks like the founder is a big Benjamin Graham/Warren Buffett fan. Right up my alley!
Black Crane was buying in when the stock was around 70c - a figure that they clearly thought represented a large discount to the actual long-term intrinsic value of the business. A sentiment I tend to share!
They doubled down when the stock hit insane levels. Looks like the 10.3M shares were picked up for around 29c so they weren't able to grab meaningful amounts at the all-time-low. In faxct they were only able to grab about 60K shares at 19c.
Doubt it will bother them very much. I expect they might add more - and will go on to make a significant amount of money from this investment.
SKT Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)