Why I believe XIN will not go private any time soon
XIN CEO states he likes the discipline the Nasdaq listing impose on them (SOX etc). While I would probably consider this statement somewhat arguable (I think investors confidence in the stock market is at all time low)I think the real reason for not going private at the moment is that it does not make financial sense. Would you rather slowly buyback shares below USD 3 or 4 until they can with the company money and effectively reducing the oustanding shares as they have been doing for quite some time and then let the CEO/PE firm place a bid on what is left on the market in maybe a year's time (10%?, 20%?) or place now a bid with at a premium price on 60% of the company. Definitively it is much mor financially convenient to do what XIN is doing at the moment. The answer for us small shareholders is not selling a single share, not even for trading reasons, accumulate as we can and we will be hugely rewarded. Eventually also XIN will be taken private in particular if the market price and the fair price will keep so distant.
I don't think they will go private any time soon either. They will continue to buy back shares until insiders own 90% of the company, which would take a few years. After that point they may buy the remaining shares back by then.