Since 2014, south-east Asia-focused online classifieds business iCar Asia has made less progress than a Bangkok traffic jam, which explains why shares have slipped from $1.70 back then to 42¢ on Tuesday.
So shareholders must have been chuffed to get a $217 million, or 50¢ per share, conditional takeover bid from Chinese digital player Autohome Inc on October 30.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
