RE:RE:TELL ME MOREI have been in and out of this stock since the IPO. It once traded as high as $1.25, and the company has never looked better as it does now.
What i am trying to get at is the numbers are the numbers. They have (I calculate) about .12 cents in cash and .23 in NAV. They could have done Yangshan (a massive over $400m project) by themselves but simply coudnt raise the cash at the levels they were trading. So good on them, they cashed out. But, it shows they can get the deals, they just need the money. So...yes they would dilute on any financing, but the point is they know they are undervalued, just like everyone else does. So...they will want to get the share price a LOT higher before they would do that.
Also remember, this company is based in Hong Kong and their auditors are Canadian (from Calgary). There is a HUGE difference between accounting standards in Hong Kong and China. You simply cannot compare them. This is a solid company.
I also know management has participated on every financing done since the IPO. For those of you looking at the insider buying....take a look at the insider selling? Bet you cannot find any.
Mr. Chiu is in Calgary right now. He is not just there because he enjoys the cold weather, and i can tell you the company has done NO IR, roadshows, or promoted the stock for at least 3 years. I am sure they knew there was no point in fighting the Sino Forest tide.
So, whether it is a normal course issuer bid, dividend payout, privatization, expansion, new deal or no deal...this stock is still tremendously undervalued.