Thursday, January 06, 2011
Tai Sang Land purchased #2
Yesterday I made a small additional purchase of Tai Sang Land (HK:89), paying HK$3.45 per share. Like a number of the small local property companies, Tai Sang sells at a substantial discount to its NAV and my investment is being made on the basis that I expect part of that valuation gap to narrow over time. Unfortunately the stock is very thinly traded and I was not able to buy as many shares as I wished before the price ran away from me yesterday afternoon and today.