Wonder which brokerage brokered the placement? More importantly, who are the investors who took up the shares? High networth? Boutique funds? In-house traders/remisiers?
Are they long-term or short-term in the stock?
The discount to market price was expected since no one would pickup Qingmei in big quantities unless offered a discount. Plus offered an assurance that the books are clean. Plus an assurance that the earnings for 3Q would not be a negative surprise.
So, short-term wise at least, it looks like the stock would be OK.
Maybe we are too imaginati ve, or too anxious.
