IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mason-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:17664:1" rel="noopener">Mason Group Holdings (273 HK)</a> announced a privatisation offer from Red Emerald Capital at HK$0.0338 per share, a 20.7% premium to the undisturbed price of HK$0.0280 per share (30 May). </li>
<li>The key conditions are SFC approval and the scheme being approved by at least 75% disinterested shareholders (&lt;10% disinterested shareholders rejection). The offer price has not been declared final.</li>
<li>Four shareholders hold a blocking stake - three have provided irrevocables while the other will accept due to the attractive ROI. Therefore, there is a clear pathway to completion.</li>
</ul>



Mason Group Holdings (273 HK) announced a privatisation offer from Red Emerald Capital at HK$0.0338 per share, a 20.7% premium to the undisturbed price of HK$0.0280 per share (30 May). 
The key conditions are SFC approval and the scheme being approved by at least 75% disinterested shareholders (&lt;10% disinterested shareholders rejection). The offer price has not been declared final.
Four shareholders hold a blocking stake - three have provided irrevocables while the other will accept due to the attractive ROI. Therefore, there is a clear pathway to completion.


Mason Group (273 HK): Privatisation Bid at HK$0.0338 Per Share

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kingston-financial-group-ltd" target="_blank" data-smartkarma-citation="entities:3566:1" rel="noopener">Kingston Financial (1031 HK)</a>’s scheme resolution was approved at today’s scheme meeting - 99.89% of independent share votes cast FOR (0.09% of all independent shareholders AGAINST).</li>
<li>The scheme comfortably passed the headcount test with 44 FOR and 13 AGAINST the scheme (56 FOR and 20 AGAINST on a look-through basis).  </li>
<li>The last trading is on 10 February. At the last close and for the 3 March payment, the gross and annualised spread to the offer is 3.4% and 69.3%, respectively. </li>
</ul>



Kingston Financial (1031 HK)’s scheme resolution was approved at today’s scheme meeting - 99.89% of independent share votes cast FOR (0.09% of all independent shareholders AGAINST).
The scheme comfortably passed the headcount test with 44 FOR and 13 AGAINST the scheme (56 FOR and 20 AGAINST on a look-through basis).  
The last trading is on 10 February. At the last close and for the 3 March payment, the gross and annualised spread to the offer is 3.4% and 69.3%, respectively. 


Kingston Financial (1031 HK) Scheme: That Is a Pass

<ul>
<li>The <a href="https://www.smartkarma.com/entities/kingston-financial-group-ltd" target="_blank" data-smartkarma-citation="entities:3566:1" rel="noopener">Kingston Financial (1031 HK)</a> scheme document is out with the scheme meeting scheduled for 9 February. The IFA considers the offer to be fair and reasonable. </li>
<li>Key conditions include approval by at least 75% of independent shareholders (&lt;10% of independent shareholders rejection) and the headcount test. No shareholder holds a blocking stake.</li>
<li>Peer re-rating increases the headcount test risk. At the last close and for the 10 March payment, the gross and annualised spread is 5.3% and 42.2%, respectively.</li>
</ul>


The Kingston Financial (1031 HK) scheme document is out with the scheme meeting scheduled for 9 February. The IFA considers the offer to be fair and reasonable. 
Key conditions include approval by at least 75% of independent shareholders (&lt;10% of independent shareholders rejection) and the headcount test. No shareholder holds a blocking stake.
Peer re-rating increases the headcount test risk. At the last close and for the 10 March payment, the gross and annualised spread is 5.3% and 42.2%, respectively.


Kingston Financial’s (1031 HK) Vote on 9 February

Hong Kong

Get Nice Financial Group Limited is an investment holding company. The Company provides services including securities, futures, and options broking, securities margin financing, and corporate finance services.

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Get Nice Financial Group Ltd (1469 HK)

Kingston Financial (1031 HK) Scheme: That Is a Pass

The last trading is on 10 February. At the last close and for the 3 March payment, the gross and annualised spread to the offer is 3.4% and 69.3%,...

Arun George

Kingston Financial’s (1031 HK) Vote on 9 February

A modest offer and peer re-rating increase the headcount test risk. It could be a close call but the privatisation offer should have enough to...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Mason Group (273 HK): Privatisation Bid at HK$0.0338 Per Share

Four shareholders hold a blocking stake - three have provided irrevocables while the other will accept due to the attractive ROI. Therefore, there...

Arun George

Kingston Financial (1031 HK) Scheme: That Is a Pass

The last trading is on 10 February. At the last close and for the 3 March payment, the gross and annualised spread to the offer is 3.4% and 69.3%,...

Arun George

Kingston Financial’s (1031 HK) Vote on 9 February

A modest offer and peer re-rating increase the headcount test risk. It could be a close call but the privatisation offer should have enough to...

Arun George