Hour Glass paid $15.5 million for a 5% stake in Gems TV Holdings towards the end June 2006.
Who is Hour Glass and who is Gems TV?
Hour Glass is in business of retailing luxury watches and accessories and listed in the SGX.
Gems TV buys cut gemstones, makes them into handcrafted jewellery in Thailand and sells the goods through a 'reverse auction' over television shopping networks to home buyers in the UK. Gems TV is currently offering nearly 285.8mio shares at $1.08 apiece in its IPO now.
What is the expected profit to Hour Glass?
At the offer price of $1.08, that stake will be worth $44.5mio ie. a potential unrealised investment gain of $29 million after just 4 months!!!
What an investment!! What an early Christmas windfall!!
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