Shares in Origo Partners hit a 52-week low after the Beijing-based private equity investment firm announced a first half investment loss, pushing it into the red at the interim stage.
Having enjoyed investment income of $23.6m in the first half of this year, the group suffered an investment loss of $38.6m in the first half of 2012, resulting in a loss before tax of of $37.3m, compared to a profit of $19.4m a year earlier. Its net asset value dropped to $204.2m from $240.6m the year before. Over half the firm's portfolio is mining stocks, which have been hit by the world's ongoing economic woes. Its investments in Mongolia are also in the spotlight as "resource nationalism" is growing in the country.
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