3SBio, Inc. (ADR) (NASDAQ:SSRX)
CAPS Rating:
The Company is engaged in the research, development, manufacture and distribution of pharmaceutical products in the China.
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The Company is engaged in the research, development, manufacture and distribution of pharmaceutical products in the China.
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Since this is CAPS, I'm taking 3SBio at their word regarding their 18M quarterly revenues and expected 20-30% topline growth in 2011. In the real world, I will not likely ever invest in a company based in China again.
Good thing I included the qualifier "likely". I believe the failure of the market to fully revaluate 3SBio on the buyout bid is derived from the same concerns about revenue accuracy that have depressed the share price. Fair enough, but the fact that the CEO is willing to buy the company is good enough evidence for me to make a moderate-sized 1000 share bet on the arbitrage play at 13.4. This is not for the GBMB account.
Just bought another 1000 shares at 14.7. The street is still discounting this stock even though the private buyout is practically a done deal. $700 isn't much for me but it was worth the 30 seconds it took to make the trade.
Just sold all 2000 shares for profit of $2100. Not excited to hear about a shareholder revolt at the buyout. I'm sure the buyout is a slimy backdoor deal bad for longterm holders but I bought this for arbitrage, not spec.