StubWorld: Melco (200 HK) Looking Toppish. Again.

Sep 30, 2025

∙ Paid

Melco International Development (200 HK) is now trading at a premium to NAV for the first time since announcing a one-for-two rights issue.
Preceding my comments on Melco are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.

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