Well, I said Oslo and not US, but why shouldn't SIAF get a somewhat decent PPS after a proven (and decent) dividend history if they list on a respected and transparent market with strict rules? There is likely to be a "china-discount", but a P/E of 0,5? Yes, if SIAF continues to treat it's shareholders like it has in the past (especially prior to 2014), but with the carve-out-prosesses - AFTER a successful/proven carve-out of Tri-Way?
Left the scam-discussion years ago? Well, many potential investors stay away because it's too good to be true. What other explanation do you have to a PPS that is lower than the estimated valuation of the dividend shares of Tri-Way? Distrust is the only answer