Wah Nam today on the Hong Kong Exchange fell 11c (7.9%) to $1.28.
This converts to AUD 16.6c per share and values the 30 shares being offered for eah Brockman share at $4.94. This is below todays closing price of $5.
I think that the Wah Nam bid at this level is pretty much dead.
The announcement today about the progression in the Rail talks with FRG to be "company making" shoud result in a re-rating of the company. Has the potential to double in the next 6 to 8 months when the deal is confirmed.
BRM Price at posting:
$5.00 Sentiment: Buy Disclosure: Held
