Taylor Maritime Investments (TMI) closed its offer to acquire all of the issued ordinary shares in Grindrod Shipping for HKEX:26 back in October 22. NASDAQ:GRIN has since sold off sharply following concerns of imminent de-listing by TMI.
However, TMI does not meet the compulsory acquisition threshold of at least 90% for delisting of GRIN from the JSE.
I wouldn't be surprised if NASDAQ:GRIN is the target of future buyouts from larger dry bulk shipping companies which recognise it's strong fundamentals and growth prospects.
My DCF model of NASDAQ:GRIN supports my opinion that current stock price April 2023 is very very cheap.
An opportunity to make some serious gains for the patient investor.