I'm a BRM holder and I'm not embarrased
UMC has a fully diluted market cap on today's prices of circa $370M.
BRM is only around $225M (before the raising to be ratified on 7th July). UMC has already blown BRM away for market cap. Even with $120M cash raised next month BRM will still be shy of UMC's market cap. I'm thinking the market has already priced in a big valuation differential.