In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Taiwan Fund Inc. (NYSE:TWN) reported that City Of London Investment Group Plc. has picked up 3,342,101 of common stock as of 2017-03-01.
The acquisition brings the aggregate amount owned by City Of London Investment Group Plc. to a total of 3,342,101 representing a 40.6% stake in the company.
For those not familiar with the company, The Taiwan Fund, Inc. is a diversified, closed-end management investment company. The Fund’s investment objective is to seek long-term capital appreciation through investment primarily in equity securities listed on the Taiwan Stock Exchange (TSE) in the Republic of China (ROC). The Fund invests in various sectors, including biotechnology and medical care; building material and construction; cement; chemical; communications and Internet; computer and peripheral equipment; electric and machinery; electronic parts and components; financial and insurance; foods; oil, gas and electricity; optoelectronic; plastics; semiconductor; shipping and transportation; textiles, and trading and consumers’ goods. The Fund’s investment advisor is JF International Management Inc.
A glance at Taiwan Fund Inc. (NYSE:TWN)’s key stats reveals a current market capitalization of 323.16 Million based on 8.22 million shares outstanding and a price at last close of $17.60 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2010-09-29, Skinner picked up 4,900 at a purchase price of $16.50. This brings their total holding to 4,900 as of the date of the filing.
On the sell side, the most recent transaction saw Skinner unload 4,900 shares at a sale price of $17.09. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Taiwan Fund Inc. (NYSE:TWN) as things move forward to see if its progress aligns with these transactions.
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