It will be interesting to see how many acceptances start flowing through. I bought an additional 15k at $2.22 a couple of days ago, but will wait before buying more. I figure that if Wah Nam is getting close, sellers will start dumping in the high 1s rather than take the WN scrip.
Unlike most of you, I'm prepared to take Wah Nam scrip as a last resort as I just can't see their market cap staying at $340 million once they have total control. So buying BRM up to $2.04 is getting WNI at 3 cents which I should then be able to trade on the HK market. Ideally, I'd like $3 cash but it ain't going to happen. Getting more than $3 is now a pipe dream and only for the more delusional holders - particularly with world markets screwed as they are.
BRM Price at posting:
$2.14 Sentiment: None Disclosure: Held
