A few concerns I have;-
Why would a Chinese company with so much cash on hand need to raise money by listing on the ASX? The cost of raising this capital is nearly 17%, surely they could finance cheaper elsewhere if their financials are as good as they have stated in the prospectus.
The quarterly loss reported by CMCI puzzles me. Why would listing on the ASX cause them to book an expense of USD38m to the profit and loss?
Existing shareholders will retain around 90% of the votes.
It's still a Chinese dairy producing Chinese milk. I thought the demand was for Australian and NZ milk because the Chinese have lost faith in their own industry.
If the financials are as good as they seem, why are they not raising at 60-80c a share? Bargain of the century or too good to be true?
A few concerns I have;- Why would a Chinese company with so much...
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