RE:PR China wants to invest in PRG So Shandong will be buying a huge chunk of those Internatiinal IPO shares..nearly 40%.
What is also interesting is that subsequent to its purchase, Shandong will own just under 10% of PRG.
This means that Shandong does not meet the definition of an Insider of PRG.
In any buyout, those shares can be voted
One wonders what other Chinese buyers might taking huge chunks of those International shares, as a backdrop to buying out Majestics 1.4 billion shares.
Such a buyout is our only exit route Imo.
And I don't think the premium will be much higher than the IPO price of 8 cents or so.
Afterall, it appears that voting leverage is now being put into place.
Just a thought .
Persistence plans to offer a total of 500,000,000 Shares (subject to the over-allotment option), of which 450,000,000 are international offer shares (subject to reallocation and the over-allotment option) and 50,000,000 are Hong Kong offer shares (subject to reallocation)