There was some excitement today for retail investors who have a stake in Wing Tai Holdings. Share price formed a long white candle, touching a high of $2.12 a share before closing at $2.11 a share.
The closing price is some 10.18% higher than the closing price last Friday (i.e. $1.915 a share).
Why did Mr. Market chase Wing Tai Holdings' stock to a much higher price level?
Could it be that privatisation is on the card?
If so, what might the offer price be?
These are some questions which people might be asking.
Well, with NAV/share at about $3.80, could we see an offer of about $3.00 a share or a 20% discount to NAV?
Honestly, I don't know.
What I do know is that the white candle formed today is on the back of much higher volume. In fact, it is the highest daily trading volume in years......