Share-buyer Bernard Whimp has launched another undervalue share raid on a major listed company - prompting warnings from the Securities Commission and the target company, Sky City Entertainment Group.
Mr Whimp is offering to buy shares in the Sky City Entertainment Group for $2.30 each, one-third below the $3.42 they closed at on Wednesday.
The Commission and Sky City say accepting the low price would not be in investors' best interests.
The Commission says it's concerned more unsolicited offers may be made in the coming weeks, and investors should be extremely careful.
When shares are sold through a broker, investors receive payment within three working days, but Mr Whimp will make investors wait for payment for up to three weeks.