Construction subcontractor Lotus Horizon (6063 HK) is suspended pursuant to the Hong Kong Code on Takeovers and Mergers.
I expect Lotus will follow in WK Group (2535 HK) and Superland Group Holdings (368 HK)‘s footsteps, whereby the controlling family exits, triggering an unconditional takeunder.
Loss-Making Lotus is a total bubble stock, up 457% since Feb , 750%+ in 12 months, and trading at 20x P/B. Are shell companies and reverse takeovers making a comeback?
Lotus (6063 HK) Is A Bubble Stock. Expect An Unconditional Takeunder
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