I think there was every reason to short that Hong Kong stock
The Triway shares will be extremely cheap at the proposed price compared with the dairy Hong stock.
"As of June 30, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,374 26,286 500 37,160" Only 10,374 were milk cows in 2015. The remainder were calves and heifers. Assuming those animals had an average value of HK dollars 10,000 the total value would be some HKD 370 million. But the market value before the stock collapse was about HKD 35 billion, which is almost 100 times as much! Each cow seems to have been values at almost USA 100,000 as far as I can see. I don't mention here that the company also had some less important other businesses. What is incredible is the previous valuation of this stock before the collapse of the pps.
