Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Kingboard Copper Foil Hldgs / Event-Driven

April 4th after the close, a wholly-owned subsidiary of Hong Kong-listed <a href="https://www.smartkarma.com/entities/10276" target="_blank" data-smartkarma-citation="entities:10276:1">Kingboard Laminates Holdings (1888 HK)</a> (which itself is 70.93% owned by <a href="https://www.smartkarma.com/entities/8122" target="_blank" data-smartkarma-citation="entities:8122:1">Kingboard Holdings (148 HK)</a> (formerly known as "Kingboard Chemical")) <a href="https://links.sgx.com/FileOpen/Offer%20Announcement%2004.04.2019.ashx?App=Announcement&amp;FileID=550299" target="_blank">launched</a> a VOLUNTARY UNCONDITIONAL CASH OFFER for <a href="https://www.smartkarma.com/entities/4524" target="_blank" data-smartkarma-citation="entities:4524:1">Kingboard Copper Foil Hldgs (KCF SP)</a>. This is a "clean-up" as Kingboard Laminates owns 87.96% of Kingboard Copper Foil already. It is unconditional in all respects and the Offeror owns 87.96%. The goal is delisting. If they get 17.03% of the minority, they will be able to engineer a delisting. Squeezeout is a bit further out but is far from impossible. This looks like a done deal. This one should trade at shouldn't trade at a premium UNLESS...<hr>Quiddity's new <a href="https://www.smartkarma.com/insights/quiddity-singapore-m-a-guide-2019" target="_blank">Quiddity Singapore M&amp;A Guide 2019</a> is now published with guidelines to the relevant rules, regulations, documentation, and pointers to the Singapore M&amp;A landscape. Watch for more in the series to be published shortly.

April 4th after the close, a wholly-owned subsidiary of Hong Kong-listed Kingboard Laminates Holdings (1888 HK) (which itself is 70.93% owned by Kingboard Holdings (148 HK) (formerly known as "Kingboard Chemical")) launched a VOLUNTARY UNCONDITIONAL CASH OFFER for Kingboard Copper Foil Hldgs (KCF SP). This is a "clean-up" as Kingboard Laminates owns 87.96% of Kingboard Copper Foil already. It is unconditional in all respects and the Offeror owns 87.96%. The goal is delisting. If they get 17.03% of the minority, they will be able to engineer a delisting. Squeezeout is a bit further out but is far from impossible. This looks like a done deal. This one should trade at shouldn't trade at a premium UNLESS...Quiddity's new Quiddity Singapore M&amp;A Guide 2019 is now published with guidelines to the relevant rules, regulations, documentation, and pointers to the Singapore M&amp;A landscape. Watch for more in the series to be published shortly.

Kingboard Starts Voluntary Unconditional Offer for 88% Held Sub Kingboard Copper Foil

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Thematic (Sector/Industry)

<ul>
<li>SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold mining stocks. These 11 stocks are at different stages in the exploration, development, production cycle and have averaged a 19.0% gain in 2017 YTD.</li>
<li>
Of the three segments, mining industrial minerals has been the strongest performer in the 2017 YTD with an average 30.4% gain, led Alliance Minerals Assets. Coal was the next best performer with the four stocks…</li>
</ul>


SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold mining stocks. These 11 stocks are at different stages in the exploration, development, production cycle and have averaged a 19.0% gain in 2017 YTD.

Of the three segments, mining industrial minerals has been the strongest performer in the 2017 YTD with an average 30.4% gain, led Alliance Minerals Assets. Coal was the next best performer with the four stocks…


Average 19% YTD Gain in Key Mining Stocks

Singapore

Kingboard Copper Foil Holdings Limited manufactures and trades copper foil which is a new material for laminated and printed circuit boards.

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Kingboard Copper Foil Hldgs (KCF SP)

Kingboard Starts Voluntary Unconditional Offer for 88% Held Sub Kingboard Copper Foil

April 4th after the close, a wholly-owned subsidiary of Hong Kong-listed Kingboard Laminates Holdings (1888 HK) (which itself is 70.93% owned by...

Travis Lundy

Average 19% YTD Gain in Key Mining Stocks

SGX lists four stocks mining industrial minerals including tantalite, phosphate, limestone and marble, four coal mining stocks and three gold...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)