APAC did a 1:2 rights issue back in March to raise HK$450m (A$90m).. Can’t see anything more recent however I do see their major shareholder ‘lent’ them HK$125m (circa A$25m) on 13sept which is right at the start of their 4 week buying spree (4 Sept-1 Oct) where they gobbled up circa 70m MLX shares for approx A$12m. They hold around A$200m in cash and no debt.
I wouldn’t rule anything out with them.
On a side note..
Simply wall street reported that ex greentech chairman sold their circa 600m shares for HK$113m which works out to be HK21cps... I get a slightly lower number but point remains that it was at a significant premium to the market traded price when traded at 18 November (this is not a new transaction). https://**.st/stocks/hk/materials/h...95-hai-yu-xie-just-sold-100-of-their-holding/
Along with that HK$113m (A$23m) I think there’s been roughly HK$130m (A$26m) traded in the last 5 trading days there (circa 800m shares). Unknown who has been buying and selling in the past week...
MLX Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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