Plover Bay Tech (1523 HK) Floats North American Ops’ Spin-Off
Plover Bay Technologies (1523 HK), a provider of network connectivity hardware, software, and services, has proposed the spin-off and separate listing of its North American ops on NASDAQ.
Plover Bay sells specialised routers and software that combine multiple internet sources to bridge connectivity dips in WIFI/4G. Gross margins are impressive.
Plover Bay’s bottom line growth - and share price - has been strong, largely predicated on an agreement struck with SpaceX’s Starlink in January 2024.
The Trade:
This is an interesting company.
Despite the meteoric share price gain, I might look to get some exposure on any weakness.
FY25 results will be released today.
The insight is still labelled bullish as I’m still not bearish here.
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