Yes, you make some good points, particularly around AVZ being a zero sum game.
This latest offer is just MMGA stooges doing their bit for China. Their pitch is to institutional investors, rather than individuals looking to offload AVZ from their books five minutes before EoFY.
While it might seem attractive to offset the loss against gains made elsewhere, institutions mostly bought into AVZ around $1 as AVZ entered the ASX200, their auditors and the ATO may take a dim view of a company or super fund buying at a dollar and selling at one cent when the game is still in play.
