fortune oil going troppo, page-10

Yes, I don't know if many other holders are aware that there is a fairly narrow market in the FTO shares, due to the overwhelming majority of them being in the hands of directors - either directly or indirectly - howver some are owned by the Chinese Government - indirectly through SOEs (state owned enterprises). They might be a bit sour if they are left out of any buy-in and refloatation - not good PR in this environment, but they would probably have other plans in place.

For any shareholders - if they had the chance to rebuy in on a refloat in Hong Kong for example, the initial IPO would be such that the then ownership would have already made their money, by refloating at a much higher valuation (heard talk on Chinese TV yesterday that some companies are trading on P/Es of 80 and 90) - Exisiting FTO shareholders would have to pay a lot more for the same share of the company - A few apsects to consider.

As for MPO case what is the chance of a buyout? well just MPO Chinese interest, its quite possible but they FTO/Chinese government need MPO to provide the 'Know how' Expert guidance.

Very interesting indeed!