"opinion" Regarding Zhao's actions to list on Chinese Market
I have been aware of this for several months now, but there has been no further activity to report so I thought it best at this time to go ahead and post it for discussion or just for information.
The evidence for this is pretty simple. Several months ago Shanxi Wo, (aka) Puda Group LTD, posted a help wanted with several Chinese head hunter type employment services a request for a Corporate Board Secretary familiar with new listings and Investor relations. I do not know if the position was filled, but I can assume it was.
The new listings in China were all delayed and have bunched up like a huge log jam of companies. The Chinese have delayed the IPO's to give them time to inspect for frauds and work up new regulations to clean up the Chinese IPO process .At last check this log jam still existed but they say the process is starting to move forward.
I don't know where Zhao's listing request is in this process and I don't yet have a name for the listing but when I do I will post it. I might add that dozens of companies have withdrawn their IPO's to either improve their paperwork and corporate reporting, or they cancelled it because they had something they did not want the regulators to find.
Nice that they are cleaning up the process, but the delays and extra time required to get a IPO approved make it impossible to form a timeline for this particular IPO. There is every indication that the IPO is connected to Zhao's Coal assets and that would likely mean that Shanxi Puda Coal is the holding Company to IPO, but there has been no mention of it in recent weeks or even months by that name..
With 30 billion Yuan in assets, I personally see no reason why this would be the only IPO. Shanxi Wo is a diversified holding company with not just coal, but agriculture, food, auto retail, investment companies, chemicals, real estate, construction, hotels, minerals, and so on..
What Zhao's intentions are to do with what I call "the puda mess" are completely unknown to me.
He has had ample opportunities to fix, repair, settle this albatross called Puda Inc. We have seen various law firms hired, activity in arbitration, and then nothing....we saw the original offer to take the company private and then nothing...and this has been going on now since 2011.
So I don't know and can't predict the timeline or the outcome..I only know that it can't go on forever and we are running out the clock.
Good Luck.....we need it..