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Joho Capital Initiates Passive Stake in 58.com Inc (WUBA)

Joho Capital, managed by Robert Karr, has disclosed a new position in 58.com Inc (NYSE:WUBA). Joho currently holds 920,000 shares of Class A common stock, which represent 7.7% of class. The stake held by the fund is passive by nature. 58.com went public at the beginning of November, and according to the filing, Rober Karr’s fund holds the stock since October 31.

58.com

Joho Capital, managed by Robert Karr, has disclosed a new position in 58.com Inc (NYSE:WUBA). Joho currently holds 920,000 shares of Class A common stock, which represent 7.7% of class. The stake held by the fund is passive by nature. 58.com went public at the beginning of November, and according to the filing, Rober Karr’s fund holds the stock since October 31.

58.com Inc (NYSE:WUBA) is an small capped  internet information provider based out of China and has a market capitalization of $159 million. Since the company went public at the beginning of November, its stock has gained almost 23% since then.

Hedge fund Passport Capital, managed by John Burbank, has disclosed earlier that it has increased its holding in 58.com Inc (NYSE:WUBA) owning close to 3.2 million class shares which translate to an 11.8% of the common stock of the internet services provider, after reporting initiating the position right after its IPO. When the company went public, Burbank’s fund revealed holding 2.8 million shares. Another hedge fund which has shown keen interest in the stock of 58.com Inc (NYSE:WUBA) has been Steadfast Capital, led by Robert Pitts, which disclosed ownership of 1.8 million Class A Shares, equal to 7.6% of class. Steadfast holds the shares via a total of 904,377 ADR shares.

Disclosure: none

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