Start of Bitkub and SCB deals
Unfortunately, SCB’s Bitkub takeover talks have collapsed, although many of you might expect the deal to go well. Make a surprise for businessmen and investors.
In case anyone doesn’t know, SCBX has been planning to acquire Bitkub shares since last year with the intention of buying 51% of Bitkub’s shares. Makes society expect that Bitkub will become the first ‘unicorn’ in Thailand.
But on August 25, 65, the SCB announced the failure of the deal with Bitkub, arguing that during the due diligence, nothing was found wrong. Significantly, but Bitkub still has a pending issue with the SEC that has yet to reach a conclusion. Therefore, it is necessary that SCB eventually fail the deal.
When SCB announced the collapse of the deal with Bitkub, the community spoke about the matter and commented on the case. Dr Niwet Hemwachirawarakorn also spoke about the failed deal.
Dr. Niwet sees it as an important lesson.
Niwes, on the other hand, has warned investors and business people that when announcing any takeover deal, don’t be 100% convinced that it will happen. Because each takeover is subject to thorough due diligence.
And warned investors that if it is profitable from the assets of the company that is about to be taken over, consider that if the deal fails. Will investors be seriously damaged or not?
“For me, before buying stocks that are being taken over. In addition to having to see if the discount price or the discount is worth it or not. I also have to look at how bad the deal would be if the deal “lost”. If the answer is The price I bought was actually very cheap. The stock is a Value stock with Margin Of Safety, and the reason people take over is because the stock is way too cheap. Like this, I would buy shares, but if not, and the price of the stock or assets is “extremely expensive” in my eyes, then I will not play at all.”
The crypto market in Thailand seems to be quite chaotic lately. Earlier, it was reported that famous actress Pinky Savika Chaiyadej, her mother and 19 others were sued after it was found that actress and park had defrauded investors into investing in Forex, causing damage. Over 2,000 million baht and is currently imprisoned by the court.
Including SCB and Bitkub deals that have to fold the project to cause the Thai crypto market to start to shake. On the day that the deal was announced, Bitkub’s KUB price dropped to $58 from $79, with the KUB price set to hit an all-time high at the end of last year at $543. It can be said that at present, the KUB coin is almost 10 times lower than the previous All Time High.
Source: LINK