The IPO has to be underwritten by a respected bank. That's the trick. Even the Chinese companies that did an IPO in the US were fetching a P/E of something like 16. Doesn't matter if they have a scam VIE or not. You wouldn't believe this stuff. And the other Chinese companies that were uplisting to Nasdaq or NYSE didn't get a P/E higher than 3 to 5.
So this is how you do it, apparently. As long as the bank is supporting the IPO you are almost guaranteed a P/E of at least 10. Could even be 20 IMO if we get some growth.
The other thing is, Tri-way is a private company. It's a HK company. It never was and never will be Chinese.
Third, SIAF's most problematic assets are in HSA, perhaps some in SJAP. Not in Tri-way.
So this is looking pretty good. As long as the bank supports the IPO.
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