wah nam takeover offer for brm and frs??, page-2

They are proposing to offer 30 Wah Nam shares for each BRM share. Wah Nam's share price closed at 1.69 HKD = approx 0.21.6667 AUD equivalent.

This translates into an offer of $6.50 AUD per BRM share.

p.s. I am very tired so I am not going to do any more calcs at this stage.

That's a nice premium to yesterday's close, but far away from the what we know the true value to be. I think a bidding war could soon erupt. I also have little knowledge of Wah Nam as a company so I don't the underlying strength of their share price or activities.

All up this seems very cheap and wholly opportunistic on Wah Nam's part.