TRADING FOR A prolonged period of nearly a year at trailing PE ratios 3-4X, Sino Grandness surprisingly hasn't attracted hordes of investors.
Investors are perhaps waiting on the sidelines for the company to report significant positive progress on two matters -- redemption of its convertible bonds due at the end of this month (June) and the IPO of its beverage subsidiary, Garden Fresh.
Sino Grandness' substantial shareholder from Thailand, however, recently resumed buying Sino Grandness shares, which may signal its understanding that those matters are progressing well.
Last Thursday (June 4), Soleado Holdings bought 447,700 shares at 37.5 cents on average, raising its stake to 9.303%.
In March this year, Soleado had bought 1.59 million shares at 29 cents on average.
These transacted prices are way below the 40.35 cents that Soleado paid for its 9.0% stake in Sino Grandness at the end of 2014 when it took up a placement of new shares.
