By the numbers - ASIA's Book Value is $10.64 and their forward P/E is 9.63. This morning Share Holders approved a $12 offer.
YONG's Book Value is $11.49 and the Forward P/E is 2. To get to ASIA's number based on Book Value YONG would be worth $12.60 (10% above BV). Based on forward P/E YONG would go for $30.
While we wait for news from IICN keep your eye on these options YONG Jan 2015 7.000 call (YONG150117C00007000) YONG is the stock I told you to buy at $4.85 (currently $6.40) and you couldn't even find the company. It is time for the next leg up. I have total of 500 calls at $.05. Already a 4X Bagger on the ask and headed much, much higher. And I actually bought them not like the puts you lied about and then lost all your money anyway. Watch and learn Ringworm.
Shilling TURDle, You should offer your shill services to some of the other companies trying to go private. You could go to their message boards and tell people to just take the money, the offer is fair, Blah, Blah Blah. You can make believe you own shares like you do here. Tell them they are lucky to get 4 % in 6 months. Just post nonsense as you do here. They may pay more than the $1 per post you get here.
CCL, Stop rolling on the floor you Ignorant HO. While you were rolling around OP has posted a quick 10% gain. Fat Drunk and Stupid is no way to go through life.
Thursday's vote on ASIA should be interesting. It is funny how they are all using the same formula - offer a low-ball price and then hire a Special Committee to confirm it is a good deal. I think you are going to see see a lot of rejected offers. Thanks but "NO" Thanks.
The only people that would vote Yes on this are what they call "Friends & Family". They would likely be offered shares before the stock is relisted in Hong Kong. True investors are here to own the business not to wait 6 months for the last $.25
They look like they have a very similar scenario going on over there. Nevada based company with a year old take private offer. Chairman over there owns 43% of the shares. They have a "Special Committee" and everything. Announced approval Dec. 10th. It looks like they even tanked earnings for a couple of quarters.
Turd, I told you to buy ACTS. It was up 6% yesterday. Even if you did buy shares - that does not mean you have to post nonsense here. Just vote your "shares" and shut up. No one likes your posts and you add nothing here.
The buyout has no chance of going through. Most small investors do not even bother to vote. The float on YONG is 32% owned by Institutions & Mutual funds. The ones that have spoken up have been opposed to the buyout. The votes are not there, but I am glad they made the offer because it took out the trash. (RXR and the other shorts)
The company has not reported in a while, but they when they do we can easily see $.50 - $1.00 per share.
One thing that I can not figure out is where were the rest of the board votes? As of the record date 10/04/13 there were 50.68 Million shares outstanding. We have the fact that MS's 6.5 Million preferred shares were eligible to vote for the board. That actually bumps up the number of votes to 57.18 Million shares. Yet when you add up the Yes, Withheld and Non-votes they add up to 45,152,014. Originally I was thinking those share were "In Transfer" but when I think it through you would get a proxy if you owned the shares on October4th. Whether you still owned them or not you could still vote. Anyone??
Page 67 has the holders listed and a share count for each. The language behind the 12 Million number is vague. That makes the 19.2 Million number accurate as we know what is in it. Using the vague 12 Million number and ignoring the 5 Million "missing" shares makes me think you are either bad at math or a shill for the buyout group.
Page 67 lists the holders and lists the number of shares. Why would you quote a number from page one and then ignore the point of the message that 5 million shares did not vote? Nice try Turdle. Your ID was created yesterday.
Thunder, As was pointed out by mekong on Dec. 6th - Page 67 of the latest draft proxy, shows the following ownership for "excluded shares":
555,000 Z Wu
7,657,704 Full Alliance
2,030,000 Prosper Sino
That's a total of 19,242,043 shares - not 12,370,747. If you add up all of the yes votes cast, the abstains, and no votes you get only 45.2 Million shares. That means 5.5 Million shares changed hands between the record date 10/04 and the vote date 12/01. Those shares were not eligible to vote.
If we see a similar number of shares not eligible to vote on the buyout that will mean 45.2 Million - 19.2 Million = 26 Million shares will be voting. That means aany combination of 13 Million no votes or non-votes will kill the deal.
And Solt, Maybe they will come back with another offer. If they do it will have to be $10+ if they want to get anyone behind it. At the end of the day, there have proven to be some land mines amongst Chinese stocks. But China is the world's second largest economy and there are thousands of legitimate companies and lots of money to be made for people willing to take a risk.
Solt, You have to stay within your risk level. If you think you are going to get ripped off you should sell and buy a safer stock. The reason the P/E here is 2.5 instead of 25 is because people are afraid of investing in Chinese companies. If Morgan Stanley and KMPG were not involved here I would not be here either.
JoJo, I was thinking of taking some profit once I was up $1.00 per share. Then I was thinking where else can I get a stock with a Book Value of $8.50 for $2.50? And even if you could find one, once you add in a filter for a low P/E (in this case 2) you will find few if any options. I then decide to add some shares instead of taking profits.