Sound familiar?:
Traditional Therapy Clinics (TTC) has seen its share price fall 90%, amid concerns it was having difficulty getting money out of China.
Despite its operating business appearing very healthy, it is trading at half its cash backing and at a ratio of one times next year's earnings.
Chairman Geoff Ross confirmed to
AFR Weekend the company was having difficulty getting capital out of China and that it was unable to pay a dividend for 2017.
In response to a general query from the ASX in September last year TTC said it had "never not been granted approval to repatriate funds [from China] for the purposes of dividends.
Adding to concerns about its ability to get money out of China was the company completing a $2 million capital raising via a share placement for working capital in August last year, despite having $22 million in cash, according to its accounts.
http://www.copyright link/markets/e...ts-the-rush-of-china-listings-20180413-h0yq3j
