Tuesday, January 19, 2010

Hongguo Conditional Offer at $0.435

After a trading halt that was annouced last week, the news is finally out for Hongguo.

Apparently, some investment company is offering a conditional offer of $0.435 for each share of Hongguo. Hongguo last traded at around $0.32 -$0.34 range for the few weeks before the annoucement.

The highest price that Hongguo ever reached before was around $1.

Considering that certain fund managers already form close to 47% of the shareholdings, it might be only a matter of time before Hongguo is brought private again.

Investors are advised to wait for the independent financial advisors report to be out before making any decision or trading.

Hongguo should open at a price around $0.43 tomorrow.

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