No rationale, logic, valuation. Just speculation in its purest and most daring form. A sand castle built on a deck of cards, supported by a shimmering mirage of riches that can be.
Just like Tricom (a/k/a PCCLF after Li's takeover), the big boys decide to buy a small listed company - in this case Golden Power, sell off it substantive but unnecessary innards (battery making), and then inject assets (in the form of convertible debt) and investments (nay, i-net projects, visions, mirages, and dreams) into the almost empty shell, operate the newly puffed up but already listed company. These 'backdoor' listings dispense with the inconvenience of waiting around for IPO opportunity, in case the liquidity train does not manage to cross the bridge of Credibility and crashes into the South Sea. |
