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OSN - Ossen Innovation: 59% Of Parent Company Earnings But Only 4% Of Parent Market Cap
Ossen Innovation Co. Ltd.
Ossen Innovation (OSN) makes high performance pre-stressed steel used in large infrastructure projects, especially bridges. Ossen is 66% owned by Pujiang International (HK:2060) which completed an IPO on the Hong Kong Stock Exchange in May 2019 (LINK). A large part of the valuation of Pujiang shares on the HKEX is attributable to the OSN business which has a very low valuation on Nasdaq.
Pujiang’s successfully listing means there is no benefit to Ossen’s continued existence as an independent publicly traded company. The simplest and most favorable outcome for Ossen shareholders would