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opmi,
ITC (O372.HK) was up closing at $1.05 . I wonder if it is in anticipation of closing of mandatory offer today.?
Rosedale Hotel ( 1189.HK) made a placing of 131 Mil shares at $0.80 on 27 May ( supposed to be a discount of 27% to market price. and proceeds will be applied for general working capital ).
The year end accounts to 31/12/2014 shows the cash assets at $1.27 Bil. ( = $1.93 per share ).
Why issue new shares priced at $0.80 when the cash backing is $1.93 ???
What do you make of this ?.
ITC (O372.HK) was up closing at $1.05 . I wonder if it is in anticipation of closing of mandatory offer today.?
Rosedale Hotel ( 1189.HK) made a placing of 131 Mil shares at $0.80 on 27 May ( supposed to be a discount of 27% to market price. and proceeds will be applied for general working capital ).
The year end accounts to 31/12/2014 shows the cash assets at $1.27 Bil. ( = $1.93 per share ).
Why issue new shares priced at $0.80 when the cash backing is $1.93 ???
What do you make of this ?.