Today, LAP announced its intention to sell its 6.16% in AHJA for at least RMB7.5 a share.
This is at a slight discount to the closing price of RMB7.76.
More importantly, AHJA's 21x FY07 IBES consensus P/E compares favourably to its more expensive peers' 19x-75x. This means that there is potential to up the final sales price.
At RMB7.5, LAP's stake is worth $120 million.
At 26.5 cents, LAP's market cap = $107.5million
The rest of LAP's business comes free.
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