bullish
Weiqiao Textile (2698 HK): Pre-Cons Done. Payment (Perhaps) Late March
David has highlighted this Insight as a Top Pick
630 Views18 Jan 2024 08:56
Trading at a gross/annualised spread of 2.9%/16.3%, assuming late March completion. Not bad. I think this looks pretty clean here. Prudence should not be viewed a risk to the deal.
Boomeranged on Sat, 20 Jan 2024 11:06
Further evidence Prudence is in Weiqiao for the spread. They're now at 10.2245% (18 Jan). They cleared 10% (of the H-shares) - and hence a blocking stake - on the 17 Jan. IF intending to block, you'd stop at just over 10%, vote No, buy more shares after the stock craters, and patiently wait for a (hopefully) higher bid. IF blocking the vote, buying any more shares >10% is simply a waste of money.
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