Asiatravel

Asiatravel.com: Pemberton Asian Opportunities Fund emerged as a substantial shareholder after it acquired 250k shares on 30 May via the market at $0.30/share, raising its stake from 4.95% to 5.04%. This follows the speculation that the online travel company may be a potential takeover target for "two Chinese internet giants - a leading online travel firm and an e-commerce heavyweight", which emerged on news sources two days back. The fund, under Pemberton Investments, was more known for their investment in Juken Technology back in 2010, when they first emerged as a substantial stakeholder in now-delisted precision manufacturer. The company was subsequently bought over by Frencken Group in 2012 at an estimated 15% above Pemberton's cost of investment. At $0.35, Asiatravel is loss-making and is valued at 4.2x P/B, compared to HK-listed Travelsky (969 HK) that trades at 11.5x forward P/E and 1.9x P/B.