Tencent: 16% of eLong = 84.4m
So, eLong Total = $527m
Now, yahoo shows 24m shares, but the latest Form 6-k shows 52.3m shares, which suggests approx $10/share
One of these is wrong! Maybe ADS ratio? ok it is 1 for 2, so perhaps that makes it ~ $20 valuation
2.Chinese economy slowing
3.China high-speed trains
4.Chinese investing overseas
5.Chinese traveling abroad (use international airlines websites vs. eLong)
well, valuation about normal, yet economy ??
RENN is a bubble valuation still. From IPO, I thought its ridiculous pricing would only create a bearish top for Chinese net sector as a whole so committed little to Chinese net sector. I kind of thought RENN has to drop to 5 or 6 before the net sector stabilizes but the speed and magnitude of drops have been quite quick especially on SINA. Still, I'm long term bullish and would like to go long after this massive selling subsides - if I can time it right.
Chinese online statistics might not even be reliable. Of all Chinese net plays, Tencent probably most reliable for long term stock appreciation. SINA big drop might be good oppty to step in, their SNS platform sounds so good but not sure exactly how the market is valuing it going forward.
just look at china on-line companies whose valuations which were very high and now falling:
TenCent hitting day lows
Chinese on-line users rather fickle, moving from one site to another ; using past user statistics might not be good for projecting next month's statistics
Can anyone confirm the number of shares outstanding including those bought by Tencent and Expedia?
From my calculation (info from Yahoo and Press Release), the bought in much much lower price per share.
Ok, i understand there is some hype b/c these 2 companies bought in so it trades a bit more than the price they paid, BUT not a ton more.
Well, at least more strike prices are available on the Puts (could not borrow shares to short as of Monday)
my thread search for this too and i dig it out.
about 33.75 million shares ADS outstanding after the deal with Tencent and Expedia. Another poster said the same and I basically verified his numbers. You need to go through public filings to verify which I did.
I thought your other post mentioned that press releases had details on this and I couldn't find any - dude, you got me looking at the wrong places...j/k.