Yankuang Energy proposes to buy all shares from existing shareholders (excl. itself) at US$3.6 per share via convertible bonds to its own stock. Apparently Yankuang should have met some Chinese shareholders like Cinda who has 15.89% shares. It could help reduce "dumping pressure" at HK market but the purchase price is definitely not fair to the rest of shareholders who are trading at secondary market day to day. It also poses a risk of de-listing YAL if other big shareholders join the deal. Many investors of 03668.HK think it is unlikely to happen as it's only the deal with Cinda and Glencore definitely would not accept this low price. Let's see today's market response.
If you can read Chinese, here are lots of discussions on 03668.HK last night.
https://xueqiu.com/S/03668
Yankuang Energy proposes to buy all shares from existing...
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Last
$7.16 |
Change
-0.100(1.38%) |
Mkt cap ! $9.454B | |||
| Open | High | Low | Value | Volume |
| $7.31 | $7.33 | $7.16 | $9.788M | 1.356M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 69922 | $7.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.17 | 35 | 1 |
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| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| YAL (ASX) Chart |