why not blame the management? They didn’t take the decision in interest of minority shareholders at all. They launch the IPO at absurd valuations, stocks didn’t do anything for 5 years but the business has improved a lot and profit more than doubled. Now you want to take it back at the same price, how’s that fair? They launched IPO at 20P/B but now they want to take it back at below 7P/B when there is so much improvement. If you are delisting it because it’s undervalued, then give the fair value to minority shareholders and delist.
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