This time, only one out of the ten randomly selected stocks made it onto my watch list.
61. Alpine Select AG
Alpine Select select is 129 mn CHF market cap listed investment company. The name rang a bell and when I searched my own blog, I found them as one of the “co-investors” in the AIRE KgAA special situation in 2012.
Including their significant distributions, Alpine Select has an Ok track record over the last years. The stock trades very close to NAV. Their portfolio these days seems to consist mostly out of hedge funds and even a crypto fund more recently.
This is not exactly my cup of tea, so I’ll “pass”.
62. Elma Electronics AG
Elma is a 146 mn CHF market cap company that manufactures electronic components. The stock chart looks strange: After effectively flat-lining for around 12 years before increasing by ~+50% in 2021:
What a day again for the AIRE KGaA stock.
As reader AS has commented already, AIG has increased the tender offer again up to 18.25 EUR per share.
To make the situation even more interesting, the Swiss fund Alpine Select filed that they have increased their share holding to close to 17%.
In parallel, AIRE published today the Q1 report 2012 which did not contain any news. Money is still coming back. Interestingly they showed on page 8 that 55% of the portfolio is residential real estate, I assume most of this in the US. Current NAV is around 20 EUR.
One funny aspect of the current situation:
I was quite confused that the US Treasury Department was disclosing a stake in AIRE KGaA, ut the i read this sentence:
These voting rights are to be attributed pursuant to sec. 22 para. 1 sentence 1 no. 1 WpHG via American International Group, Inc., United States of America.
As the US Treasury is still holding the majority in AIG, effectively one can sell now the AIRE shares to Uncle Sam.
I think I will soon start selling the shares as the upside seems to be now relatively limited. at the current price it will e the first real “Double”.
Best_choice already alerted me to the current developement with regard to Capespan. There is an excellent writup of all the latest developements over at Wexboy’s blog. So far it looks like Total Produce is making some really smart moves