July NBS Price Data in Leading Chinese Cities With Home Price Restrictions

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The report provides less coverage and less detail than the private Fang/Soufun 100 city index whose release has been suspended.  Increased government control over price data seems to be an intangible measure to cool speculation. The NBS report still provides some … Continue reading July NBS Price Data in Leading Chinese Cities With Home Price Restrictions

Ossen Innovation Acquisition Target Valued at $40.6mm in March, Equals $1.37/ADS

In conjunction with sale of its steel business to its Chairman for $0, Ossen proposes to acquire America-Asia Diabetes research Foundation (AADRF or San Meditech).  A March 2017 private placement by AADRF provides a realistic benchmark for the fair value of the business (source Ossen proxy page 202). Proceeds of $6,000,000 were received from sale … Continue reading Ossen Innovation Acquisition Target Valued at $40.6mm in March, Equals $1.37/ADS

Ossen Innovation Filed the Proxy Statement for its Chairman’s $0 Buyout Offer

This will update my July 26 Article (LINK) with information disclosed in Ossen's Proxy Statement (LINK) for the shareholder meeting scheduled for September 5, 2017.  Key points: Ossen Chairman Liang Tang will abstain from voting his shares at the meeting.  His $0 acquisition of Ossen's business will require approval by an affirmative majority of disinterested … Continue reading Ossen Innovation Filed the Proxy Statement for its Chairman’s $0 Buyout Offer