Three questions:
1. If no Australian's have actually subscribed to the WN takeover offer, why does WNI(ASX) even exist?
Was it merely recommended to Wah Nam by their advisors as a way to appease the Australian regulators?
2. Why are HK investors seeking shares in WNI(ASX) if they are clearly based in Hong Kong?
We are told being listed on the HK stock exchange is supposed to be advantageous for attaining capital. I see no value in holding stocks in a foreign currency that fluctuates like all hell, in a country that you do not live in.
3. Why on earth would you take a stock that you have purchased on market very recently for $6 and then transfer it to a diluted penny dreadful for equivilent of $2/share?
Only person who is losing out is the person transferring the share. The only entity that gains in that situation, is Wah Nam. How is that not blindingly obvious to the regulators?
Probably very basic answers but I would like to hear anyone who can talk some sense into me.
At the moment I still see very little common sense in what Wah Nam or the people subscribing to the WN takeover have done.
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