GREY:NMKEF - Post by User
Post by
Tcheckon Aug 13, 2020 11:03am
![](https://assets.stockhouse.com/kentico-cms/0341-00/images/Sprite.svg#id_Post_Views_Icon)
122 Views
Post# 31403213
the dirty games being played all the time
the dirty games being played all the time The SEC shouldn’t allow interested parties to vote on delistings, said Smith, whose firm holds shares in around a dozen U.S.-listed Chinese companies across various funds. There is clear risk that “on any market volatility you could get a low-ball offer that is in many ways a foregone conclusion.”
Smith cited the $8.7 billion buyout deal for China’s largest online classifieds firm 58.com Inc. as the most recent example that shows the advantages controlling shareholders have over minority investors in a take-private transactions. An investor group backed by 58.com’s founder Jinbo Yao was able to approve the transaction even after minority investors including Aberdeen said the proposed bid significantly undervalued the business.
“We wrote to the company but the controlling shareholders were able to vote their shares in favor of the transaction,” Smith said.
we are the controlling shareholders allthough it doesn t seem so .