SIIC has been quite under the radar. With the deluge of funds flooding in the market and tech/finance stocks saturating, it might be worthwhile to take a look at utlities related shares.
In 2016, Shanghai Industrial Group bought in 350,000,000 placement shares at $0.63. Lets take a look at Q32016 restuls
Interestingly, Shanghai Industrial Group is the largest shareholder now with 48% stake. Clearly, EPS now has improved compared to 2016, when placement shares were bought in at $0.63.
Share price now is trading at $0.19. If I were Shanghai Industrial Group, what would i do? Even if i offer a buyout offer at 150% of current price, that would be only $0.28, still way cheaper than the $0.63 bought in 2016.
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