Value Partners Going Public

In September 2006, I posted about Value Partners potentially going public in Hong Kong. Value Partners applies the value investing approach to the Greater China region. I read sometime back that Sir John Templeton had invested money with the firm, but have no idea if that's still the case.

Now comes official word that Value Partners will list shares. The Wall Street Journal reports:

As all the shares on offer are existing shares and being sold by shareholders, Value Partners won't be using the IPO proceeds for its business development. "Our management are not selling down," Chief Investment Officer Cheah Cheng Hye said. "It is our private-equity investors who are selling their shares. And it is normal for them to buy and to sell."

It's great that management isn't selling. But I can't help but think the time to buy Value Partners stock would be after the China bubble bursts.

Then again, it all depends on valuation, right?

If the shares got cheap, they could become an interesting play on growth throughout the Greater China region. This might be one to keep our eye on.

And, on a somewhat related note, I think Templeton listed his management firm -- Templeton, Galbraith & Hansberger Ltd. -- in London in the 1980s. It was bought by Franklin in the early 1990s. If anyone knows how investors in that firm did over time, post a comment or shoot me an email.

Comments

[DougM]

I don't know if this holds up for 1990's on, but the buyer of Templeton's firm, Franklin Resources (BEN) is one of the all-time biggest long-term winners EVER on the NYSE.

[John]

DougM: Thanks, I didn't realize that. But I'm curious about Templeton, Galbraith & Hansberger in particular. If someone bought that stock when it listed in London and held until Franklin bought it, how did they do?