We reported two months ago that a suit was filed against CBLY and some of their officers and board members. This case was still pending. Yesterday, at 4 PM Pacific Time a Meeting was requested by Dean Allen Morehous, an attorney for Troutman Sanders representing CBLY.
Troutman Sanders is an international firm with offices in Beijing. My hope is that CBLY plans to go private with a reasonable offer for the 6.7 Million free trading shares held by US shareholders.
My estimate of book value as of August 2015 is $125-$150 Million which about $4.50 per share. The average cost to investors for US held shares is probably over $2.00.
Based on other Chinese companies held by US investors, an offer of 25% to 50% of book value is possible. There is a short position estimated at 50,000 shares that will be scrambling to cover.
China Bilingual Education