The offer is essentially $1.50, but there are sufficient minority shareholders to determine Wah Nam's destiny with this bid.
It's ironic that their most recent "independent valuation" states that their offer is worth more than $3. Doesn't look like that to me. With more than 6 billion WNI shares out there at the conclusion of the offer and more to come the sell queue will be biblical in its scope.
Price is being manipulated down this morning to trigger a few more sellers. Don't fall for it. I'm expecting a revised offer at the end of the bid, but if the revised offer contains any WNI stock they need to go back and redo it again.
BRM Price at posting:
$2.15 Sentiment: Hold Disclosure: Held
