Answer these questions: 1)Why would a CEO who can't speak English hire a CFO who can only speak English? Why? 2)Why would it not go private? Why? 3)Why do they say they'll enter the US market while everybody knows that's a joke? Why? ... My conclusion, XIN is a fraud.
@mscrouse, that's a good, often misunderstood question: "Where would [XIN] get the money to take the company private?"
One of the scary things about going private is that Management doesn't usually need much money, only a desire to do the deal.
Most going private deals for China stocks are structured to produce a privatized company owned 51% by the CEO and affiliates, and 49% by a new, Purchasing Partner (usually a hedge fund, or Venture Capital fund, or buyout specialists like KKR).
It's the Purchasing Partner who brings the big wad 'o cash to the deal.
Since lots of Chinese CEO's already own 51%, or some amount close to that -- I think XIN's CEO owns about 40% -- the amount of additional shares he has to buy is either few or none.
What a drama, bab10m! Yesterday, you questioned my motive for coming back to this board and accused me for trying to buy back cheaply. A perfect rhetoric from a long. Now, yourself is accused by countless longs who said you are a short seller. Remember one thing. In this board, long is the king. You betray the king, you will be punished immediately, no matter how loyal you used to be.