Just looking at the timeframe for Taifeng's investment in IMX last year, due diligence took 6 weeks. The above timetable might therefore be a bit optimistic....
Interesting that FWL chose not to announce that they have a framework agreement with Taifeng (if media reports are correct and such an agreement actually exists). I suspect that FWL considers that any agreement which is subject to due diligence is, in effect, still open to negotiation. And as FWL has informed the market that negotiations are continuing, it has satisfied its disclosure requirements.
I suspect that FWL might still be engaged in negotiations with another potential partner (Sin Tang?), and it therefore wants to keep everything at "negotiation stage" until they have a firm deal.
LCG Price at posting:
16.2¢ Sentiment: Buy Disclosure: Held
