China Auto Logistics: Jumps as top holder pushes for sale
16/07/2018 15:29
** Shares of China Auto Logistics CALI.O jump as much as
43 pct after investor reveals "ultimate goal" of getting the
company sold
** Barna Capital Group raises stake in CALI to 25 pct as of
July 13 from 19.5 pct as of Jan 8, per an SEC filing https://bit.ly/2mmYE4a,
making it the 2nd biggest shareholder in the company
** Barna Capital says it considers an activist position and
possibly a seat on board of China Auto Logistics, which sells
luxury imported automobiles in China
** "Our ultimate goal is to have management either take the
company private or sell the company altogether," says Barna,
adding it wants CALI to consider dividend or shares buybacks
** CALI last up ~30 pct, cutting YTD losses to ~7 pct; vol
of 1.2 mln shares is well above 25-dma of ~58k
(Reporting by Savio D'Souza)
((RM:savio.dsouza.thomsonreuters.com@reuters.net))