SK Jewellery Group (formerly: Soo Kee Group)

[sgmystique]

It was listed 5 years ago at IPO price of 30 ct.

Now wish to get out at half the price saying to save on expenses & cost relating to maintaining it as a listed status.

What the rationale of listing in the first place.

To be fair to those subscribers, they should delist at the same IPO price.  I don't think they suffer any financial losses doing that.

To be fair, they didn't force anyone to subscribe back then, and they are also not forcing anyone to accept the offer now. And at IPO, they were doing around $11M in profits - it's half of that now.

And having been investing for 20 years, I seldom see minority shareholders that are ever happy with an exit offer haha. Humans being greedy, most will generally say that "offer is too low!".

My uncle was complaining to me how he thought an offer price (which was at around 200% premium to last traded) was too low because the PB is only 0.3 based on the exit price. I asked him why didn't he buy more at 0.1 PB since it's was so darn cheap, and he said because it was a terrible business. But somehow after a GO was made, this terrible business became a "great business" that deserves a higher price. Always makes me chuckle examining human biases.

I cannot but agree with you Corgitator. However, it is a relatively fewer number of investors who can truly ascertain value when they see it (And overvaluation as well). The rest are fine with letting the market and their emotions decide what is right and what is wrong. No wonder so many get burnt time and again. I know because I was one of them and hopefully I am getting a little better now after spending a long long time in the markets