Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

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<p>On the 22 December, third-party service provider <a href="https://www.smartkarma.com/entities/huifu-payment-ltd" target="_blank" data-smartkarma-citation="entities:27145:1" rel="noopener">Huifu Payment Limited (1806 HK)</a>  <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1223/2020122300031.pdf" target="_blank" rel="noopener">announced</a> an Offer, by way of a Scheme, whereby shares will be cancelled in exchange for either:</p>
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<ol style="list-style-type: lower-alpha;">
<li>$3.50/share cash, a 26.8% premium to last close; or</li>
<li>2.709677 new shares in the Offeror.</li>
</ol>
<p style="padding-left: 25px;">The Offeror is an unlisted vehicle owned as to 70.7030%, 24.6620%, and 4.6350% by Zhou Ye, Mu Haijie, and Jin Yuan, who are directors of Huifu. </p>
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<p>Neither the cash nor the scrip consideration would be increased.</p>
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<p>The Scheme Document was <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0126/2021012601249.pdf" target="_blank" rel="noopener">despatche</a>d last night. The Court Meeting is scheduled for the 19 February, with payment - assuming shareholders approve the Scheme - on or before the 8 April 2021.</p>
<p>The IFA (Somerley) considers the Offer to be fair and reasonable. </p>
</div>
<div>
<p>This looks done. As always, more below the fold.</p>
</div>


On the 22 December, third-party service provider Huifu Payment Limited (1806 HK)  announced an Offer, by way of a Scheme, whereby shares will be cancelled in exchange for either:



$3.50/share cash, a 26.8% premium to last close; or
2.709677 new shares in the Offeror.

The Offeror is an unlisted vehicle owned as to 70.7030%, 24.6620%, and 4.6350% by Zhou Ye, Mu Haijie, and Jin Yuan, who are directors of Huifu. 


Neither the cash nor the scrip consideration would be increased.


The Scheme Document was despatched last night. The Court Meeting is scheduled for the 19 February, with payment - assuming shareholders approve the Scheme - on or before the 8 April 2021.
The IFA (Somerley) considers the Offer to be fair and reasonable. 


This looks done. As always, more below the fold.


Huifu Payment (1806 HK): Scheme Doc Out. IFA Says Fair

Technical Analyst, Vermilion Research

Joe Jasper

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Shanghai Stock Exchange Composite Index / Technical Analysis

<p>The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership -- overweight. At the same time we recommend selectivity in new purchases considering many Chinese equities are extended. In this report we highlight a number of attractive stocks from Chines markets as well as opportunities within <strong>Greece, South Africa, India, </strong>and <strong>Taiwan</strong>.</p>

The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership -- overweight. At the same time we recommend selectivity in new purchases considering many Chinese equities are extended. In this report we highlight a number of attractive stocks from Chines markets as well as opportunities within Greece, South Africa, India, and Taiwan.

EM Equity Strategy: Remain Overweight China

Hong Kong

Hi Sun Technology (China) Limited provides business and technology consulting services and solutions.  The Company delivers a range of specialized services and solutions to its banking, insurance, securities, telecommunications, and utilities clients.  In addition, Hi Sun, through its subsidiaries, provides consulting and information technology outsourcing services and payment solution.

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Hi Sun Technology China (818 HK)

Huifu Payment (1806 HK): Scheme Doc Out. IFA Says Fair

This transaction looks done. I'd buy here - $3.43 - around a 2.0%/10.9% gross/annualised spread, assuming completion on the 8 April

David Blennerhassett

EM Equity Strategy: Remain Overweight China

The MSCI EM index continues to develop positively from a price perspective and we expect higher prices ahead. China remains leadership --...

Vermilion Research

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