Thanks for the articles holeums, that first one raises a lot of questions for the Chinese banks, and seems to put NNW in a dominant position. Notice the importance of UnionPay, and NNW has just acquired Ofpay, which is looking like an incredibly smart business move now. Like I've said before, watch this woman.
So if we think NNW is moving up now, just wait until the announcement of the successful acquisition of Ofpay, this could skyrocket. Amalisia is no fool, she had a clever strategy all along, and she's ruthless in business, and will probably become the richest woman in China one day.
Today was NNW's biggest rise in one day since the IPO, someone is taking notice, and they were very hungry as well, but this could just be the beginning.
The only problem for most punters will be the lack of shares available, it's very tightly held, and a lot in escrow that will never hit the market, because Amalisia and her friends own them, so one day if they wish to sell a portion, it will be done in a block via a broker to another large corporation, and not on the ASX. The tradeable portion on the ASX will always stay small, deliberately so. They didn't even bother with a retail capital raising for the acquisition of Ofpay.
Watch this space.
Gw
NNW Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
