17-01-2015, 02:02 AM
The spread looks pretty attractive actually. I think the main risk here is what to do with the remaining shares held after the partial tender offer. Can we sell it at a profit or can the price appreciate further on the new structure with HSCB? Also, to a lesser extent, there's this small problem regarding odd lots which can be pretty troublesome to deal with.
<vested but small amounts>
<vested but small amounts>