Without disclosing private conversations, there wont be a placement this side of $3 - period.
Unless the world falls in - and stays that way
Neither is the THX stake an "overhang".
The number AND QUALITY of approaches they have had indicates excellent BIDDING COMPETITION.
This is not an overhang. They can afford to hold, they have a number of VERY interested parties... so why sell now? Phil is more than aware of the value of that stake. For exactly the same reason UMC wouldn't even consider placing stock at these levels, THX wont consider doing the same with existing stock that has an even higher value for corporate reasons.
Despite all the speculation, there is little point trying to find a "reason" for a drifting SP, other than that buyers are scarce, in much the same way that the real reason the SP rises is because there are impulsive buyers, at the moment there is little incentive to rush the boards.
That wont be the case within the next month or so at a guess. I'd say well before the AGM.
DYOR
UMC Price at posting:
$1.83 Sentiment: Buy Disclosure: Held
