I am writing in English, I hope that's okay. At the M1 Kliniken annual general meeting, Mr. Strauss said that the pharmaceutical business would be sold first and then the sale of M1 Kliniken could come back into focus. Anyone who thinks the sale of M1 is likely would be better off buying the parent company MPH Health Care, whose only valuable holding, the 61% stake in M1 Kliniken, is trading at a (fluctuating) NAV discount of 40-60%. I consider it quite likely that MPH will be dissolved after the sale of M1.
Thanks Dirk, really appreciate the information. I agree that if a sale takes place, the current discount on MPH will prove very favorable. However, if not, I’m not sure the discount will close, since MPH has very low liquidity and, in my humble opinion, also carries a higher risk of delisting.
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I am writing in English, I hope that's okay. At the M1 Kliniken annual general meeting, Mr. Strauss said that the pharmaceutical business would be sold first and then the sale of M1 Kliniken could come back into focus. Anyone who thinks the sale of M1 is likely would be better off buying the parent company MPH Health Care, whose only valuable holding, the 61% stake in M1 Kliniken, is trading at a (fluctuating) NAV discount of 40-60%. I consider it quite likely that MPH will be dissolved after the sale of M1.
Thanks Dirk, really appreciate the information. I agree that if a sale takes place, the current discount on MPH will prove very favorable. However, if not, I’m not sure the discount will close, since MPH has very low liquidity and, in my humble opinion, also carries a higher risk of delisting.
I do not see delisting as a risk, but foreign investors without access to the Hamburg stock exchange may see things differently.