Post by
yetta on Jun 16, 2016 12:03pm
No worries...
I have no worries about this deal. The more I read, the more I see that delays are just due to bad timing. Soon after deal was announced Changchun started an extremely complex company restructuring that resulted in its stock being halted while it worked through the plan which in turn delayed the fund raising arrangements for the deal. The last news from their website, June 15, indicates that fund raising to their subsidiary responsible for buying LRE is progressing well. Changchun stock is up 10% over the last few days (almost back to 21¥ ) in response to progress while the Shanghai exchange is up only 1% over same period. One can tell from the many board meeting documents over the recent months that they are very serious and working hard to get all this done.
Delays are unnerving for sure and nerves of steel are required to wait. I'm guessing that another 30 day delay at end of June will be needed and then it will be closed in July.