This is news to me! I'm surprised there was no public announcement by NTU that 'Yuxiao Fund' had applied to the FIRB in August 2022 to increase their stake to 19.9%, let alone that it had been blocked by the Treasurer on Feb 15th. There was no mention of a 'Yuxiao Fund' as a major shareholder in NTU's 2022 annual report which lists the 20 largest shareholders as of 27th September 2022, and I can't see a substantial shareholding notice since that time, so they must have concealed their shareholding in the 'Citicorp Nom PL' nominee account.
If that is the case I'm not surprised that the FIRB has canned the application, as the FIRB had also canned Boagang Group from increasing their stake in NTU back in 2020.
There is no doubt in my mind that that Browns Range HRE project is considered to be a highly strategic asset which the AUS and US governments will not allow to fall further under chinese control, even if the purported shareholders are not PRC nationals or entities.
GLTAH!
NTU Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
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