$2, just enough for a scoop of vanilla gelato...
And why are such news that can materially affect the stock price not released to US investors in English? I still don't have an answer to that question - it's an SEC requirement actually. One day something will filter through from Chinese media and the stock will tank.
Well, congratulation - you just discovered XIN
5% dividend to keep it from falling any further is needed given the in non-transparent management, debt situation, no CFO, risk of a shareholder lawsuit due to continuous disclosure of material items to Chinese media but not US investors, and our homie Omer coming back to action. $4, the price of a scoop of Gelato in NY. That's all we can get.
And the market would have liked to know before it is disclosed on Chinese webpages or in the WSJ. I have a feeling that a shareholder lawsuit is brewing because of their inappropriate IR.
I am holding this already. And annoyed as #$%$ about this company not releasing material information to US shareholders. Not skipping any more gelato to buy this stock.
To add to this: it's like Apple coming out with a new version of their phone and communicating it to Chinese investors but not to US investors in English. If the phone doesn't sell much and the stock crashes after the announcement of poor presales during the next conference call, what is the reaction of US shareholders? Class action lawsuit, because they potentially violated SEC regulations. This company with their non- existing information policy is a ticking time-bomb.
So they took out another loan to finance the construction and again they did not disclose such material information to US investors in English?
I know, but just because they are foreign issuer doesn't mean they don't need to communicate such loans (or other changes in their financial position). There is always the risk that stock tanks due to external circumstances and in such situation law firms will swarm in to find fault at the company. In this case, what they are doing may be borderline, the questions always i these issues are big enough to materially affect the share price. In any case,their PR is very poor, XIN is essentially run like a privately held company and I anticipate that they will go private eventually.
I need Mr Spell-Check!
To add to my post above: if the company intends to expand they will need money. If they are planning to raise it via a secondary they need to bring the equity price up. But they are not doing anything in terms of PR to achieve that. So maybe the low share price is in their interest because it allows the CEO and chairman to take it private for less than book value.