It is really out of my expectation, after all, the largest shareholder only holds 35% of shares. Since they only hold 35%, privatisation of the company will depends on whether the (a large number of) funds and independent shareholders agrees on that. It will be also interesting to see if the company will use the money they received from selling infrastructure business.
The company NAV is at $60 plus, company holds large pieces of lands in Wanchai, the hopewell centre, QRE project as well as Li tung street, moreover, EMAX and Panda Hotel, market capitalisation of 20B HKD is in my point of view a bit low.
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