Do you think it is possible they got an indication from overseas investors that the multiple they are willing to pay is high enough to make listing in HK worth all of this? Because otherwise it doesn't make a whole lot of sense to me either.
stock already down 10% from closing price - should come in around 30-50% until the final offering price will be announced as everyone will short the stock and buy it back at bargain prices in the offering. Still holding this morning's short position from $4.40s entry. Very nice.