China XLX Fertiliser - Delisting offer

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#1
Why is china XLX's traded at a price higher than the delisting offer price?
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#2
Reject the offer and transfer the shares to HKex to trade at better valuations than in Singapore. Alot of real examples like the most recent China Animal... the price shoot up 3 fold in HKex after delisting from SGX... past examples include Sound Global, Sihuan Pharmaceutical etc.
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