Since my posting 06/Nov below, everything was on track. MStar was IPO on TWSE on 24/DEC. Hotung share price also increases substantially from USD0.105 to close at USD0.140 on 28/DEC, a 33% rise in less than 2 months.
What is even more spectacular is the volume activity.
The two shareholders are rushing towards each destination, directly opposite each other. The major shareholder, Tai Lung Capital, has bought a few % of share in past one week, whereas another substantial shareholder Third Avenue has also sold a few %.
However, the volume today is 158M share, representing around 14% of Hotung share.
Who is the buyer?? It can't be Tai Lung or any other existing substantial shareholders since no announcement is made. What's the buyer strategy here? How can such high volume purchased without creating a substantial shareholder?
Who is the seller?? It can't be Third Avenue, as it only owns 68M shares as of 23/DEC. Could it be short-seller? Who is behind the scene? Why they want to keep the price at USD0.140?
Any one has seen this type of activity before? Pls share your experience with us.
I hope we can see things clear up soon. And of course more importantly, the price continue to rise.
great
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