PME - Pingtan Marine Enterprise: Ready To Spawn A Multiple
Investment Thesis
Due to a troubled past, including an unsustainable IPO level, massive unfriendly share dilution, and suspension of fishing in Indonesian waters that affected the majority of its fleet, Pingtan Marine Enterprise (PME) has been branded as a distrusted and failed corporate entity lacking investor and institutional sponsorship.
Our thesis asserts that this view is long outdated, as the company has re-asserted itself as a profitable downsized entity, has established credibility with Chinese governing bodies as evidenced in significant vessels approvals, is operating in a permanent and rising demand environment, and is now operating