Naibu Global (AIM:NBU) – does this signal the end of Chinese companies on AIM? We hope so!
Following suspension of its trading on 9th January 2015, the latest news from “China’s 10th largest sportswear brand” looks fairly terminal, at least for anyone interested in the shares of the UK listed entity. It’s also offers a good lesson for anyone considering investing in some distant overseas offering on AIM-do some proper research or otherwise steer clear!!
The China based Chairman and Executive Directors of Naibu now appear to have gone walkabout and have not responded to requests for information from the poor old hapless British Non-Execs, who are therefore unable to provide shareholders with any update on the financial position of the Company.
All the Non-Exec Directors can repeat is that market conditions have continued to be difficult and negotiations with distributors still have to be successfully concluded – we…
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