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Private placement is common in REIT as almost all profit is being distributed. While PP seems to dilute shareholding but at the same time it will bring down debt or add up asset portfolios which both will boost earnings and EPS.
Anyone who thought of privatize the company will always want to do it when the price is undervalued. It is illogical to push up the price from 0.50 plus to whatever higher unless someone is doing philanthropy
EWINT's FY2020 performance is very much depending on its ability to deliver its properties in time as revenue is only booked upon delivery. Without those, FY2020 could be in red.
Currently it is difficult to gauge on the progress of the project completion.