Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Lansen Pharmaceutical Holdings Co, Ltd. / Event-Driven

<ul>
<li>On the 17 September, specialty prescription drug manufacturer <a href="https://www.smartkarma.com/entities/lansen-pharmaceutical-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:10835:1" rel="noopener">Lansen Pharmaceutical Holdings Co, Ltd. (503 HK)</a>, a perennial takeover target, finally announced an Offer.</li>
<li>Wu Zhen Tao, NED and Chairman of Lansen, made an Offer for shares not indirectly held, of HK$1.80/share, by way of a Scheme, a 26.76% premium to last close.</li>
<li>Composite Doc is now out. Court Meeting is the 27th November. Expected last day of trading is the 28 Nov. 28 December payment. IFA says fair and reasonable. Looks done.</li>
</ul>


On the 17 September, specialty prescription drug manufacturer Lansen Pharmaceutical Holdings Co, Ltd. (503 HK), a perennial takeover target, finally announced an Offer.
Wu Zhen Tao, NED and Chairman of Lansen, made an Offer for shares not indirectly held, of HK$1.80/share, by way of a Scheme, a 26.76% premium to last close.
Composite Doc is now out. Court Meeting is the 27th November. Expected last day of trading is the 28 Nov. 28 December payment. IFA says fair and reasonable. Looks done.


Lansen Pharma (503 HK): 27th November Scheme Vote

<ul>
<li>Specialty prescription drug manufacturer<a href="https://www.smartkarma.com/entities/lansen-pharmaceutical-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:10835:1" rel="noopener"> Lansen Pharmaceutical Holdings Co, Ltd. (503 HK)</a> has been a perennial takeover target. And now we have an Offer.</li>
<li>Wu Zhen Tao, NED and Chairman of Lansen, has made an Offer for shares not indirectly held, of HK$1.80/share, by way of a Scheme, a 26.76% premium to last close.   </li>
<li>This looks done. Get involved if small-cap illiquid arbs are your thing. </li>
</ul>


Specialty prescription drug manufacturer Lansen Pharmaceutical Holdings Co, Ltd. (503 HK) has been a perennial takeover target. And now we have an Offer.
Wu Zhen Tao, NED and Chairman of Lansen, has made an Offer for shares not indirectly held, of HK$1.80/share, by way of a Scheme, a 26.76% premium to last close.   
This looks done. Get involved if small-cap illiquid arbs are your thing. 


Lansen Pharma (503 HK): The Chairman Makes An Offer

<ul>
<li>On the 17th January, <a href="https://www.smartkarma.com/entities/weiqiao-textile-co" target="_blank" data-smartkarma-citation="entities:3690:1" rel="noopener">Weiqiao Textile Co (2698 HK)</a> announced the pre-conditions - regulatory approvals from NDRC, MoC and SAFE - had been fulfilled. </li>
<li>The <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0123/2024012300013.pdf" target="_blank" rel="noopener">Composite Document</a> was dispatched this morning (23 January), with an 8th March EGM, and expected payment on or before the 28 March, bang in line with my estimate.  </li>
<li>Prudence has upped its stake to <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0122/2024012200327.pdf" target="_blank" rel="noopener">10.47%</a>.  IF they were intending to block, they'd stop at just over 10%. Buying any more shares &gt;10% is simply a waste of money.</li>
</ul>


On the 17th January, Weiqiao Textile Co (2698 HK) announced the pre-conditions - regulatory approvals from NDRC, MoC and SAFE - had been fulfilled. 
The Composite Document was dispatched this morning (23 January), with an 8th March EGM, and expected payment on or before the 28 March, bang in line with my estimate.  
Prudence has upped its stake to 10.47%.  IF they were intending to block, they'd stop at just over 10%. Buying any more shares &gt;10% is simply a waste of money.


Weiqiao Textile (2698 HK): 8th March Vote. Payment Late March

<ul>
<li>I tally 50 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Six new deals discussed this week, all Down Under: <a href="https://www.smartkarma.com/entities/adbri-ltd" target="_blank" data-smartkarma-citation="entities:20166:1" rel="noopener">Adbri (ABC AU)</a>, <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a>, <a href="https://www.smartkarma.com/entities/pacific-smiles-group-ltd" target="_blank" data-smartkarma-citation="entities:2891:1" rel="noopener">Pacific Smiles (PSQ AU)</a>, <a href="https://www.smartkarma.com/entities/probiotec-ltd" target="_blank" data-smartkarma-citation="entities:12047:1" rel="noopener">Probiotec (PBP AU)</a>, <a href="https://www.smartkarma.com/entities/a2b-australia-ltd" target="_blank" data-smartkarma-citation="entities:16558:1" rel="noopener">A2B Australia (A2B AU)</a>, and <a href="https://www.smartkarma.com/entities/whispir-ltd" target="_blank" data-smartkarma-citation="entities:29125:1" rel="noopener">Whispir (WSP AU)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/azure-minerals-ltd" target="_blank" data-smartkarma-citation="entities:16538:1" rel="noopener">Azure Minerals (AZS AU)</a>, <a href="https://www.smartkarma.com/entities/lithium-power-international" target="_blank" data-smartkarma-citation="entities:30603:1" rel="noopener">Lithium Power International (LPI AU)</a>, <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR Corp (4185 JP)</a>, <a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem Ltd (AKE AU)</a>, and <a href="https://www.smartkarma.com/entities/toyo-construction-co-ltd" target="_blank" data-smartkarma-citation="entities:1176:1" rel="noopener">Toyo Construction (1890 JP)</a>.</li>
</ul>


I tally 50 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Six new deals discussed this week, all Down Under: Adbri (ABC AU), Link Administration (LNK AU), Pacific Smiles (PSQ AU), Probiotec (PBP AU), A2B Australia (A2B AU), and Whispir (WSP AU).
Key updates took place on: Azure Minerals (AZS AU), Lithium Power International (LPI AU), JSR Corp (4185 JP), Allkem Ltd (AKE AU), and Toyo Construction (1890 JP).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Adbri, Link Admin, Azure Minerals, Lithium Power, JSR Corp

<ul>
<li>I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Four new deals discussed this week: <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a>'s reverse takeover; Tanotos' tilt for <a href="https://www.smartkarma.com/entities/vinda-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:475:1" rel="noopener">Vinda (3331 HK)</a>; and Tender offers for <a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric (6967 JP)</a> and <a href="https://www.smartkarma.com/entities/outsourcing-inc" target="_blank" data-smartkarma-citation="entities:7431:1" rel="noopener">Outsourcing (2427 JP)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/pact-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:692:1" rel="noopener">Pact Group Holdings (PGH AU)</a>, <a href="https://www.smartkarma.com/entities/allkem-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Allkem (AKE AU)</a>, <a href="https://www.smartkarma.com/entities/costa-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22632:1" rel="noopener">Costa Group Holdings (CGC AU)</a>, <a href="https://www.smartkarma.com/entities/t-k-toka-co-ltd" target="_blank" data-smartkarma-citation="entities:18678:1" rel="noopener">T&amp;K Toka Co Ltd (4636 JP)</a> and <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a>.</li>
</ul>


I tally 46 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Four new deals discussed this week: Sigma Healthcare (SIG AU)'s reverse takeover; Tanotos' tilt for Vinda (3331 HK); and Tender offers for Shinko Electric (6967 JP) and Outsourcing (2427 JP).
Key updates took place on: Pact Group Holdings (PGH AU), Allkem (AKE AU), Costa Group Holdings (CGC AU), T&amp;K Toka Co Ltd (4636 JP) and Hollysys Automation Technologies (HOLI US).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Sigma Health, Vinda, Outsourcing, Allkem, Costa, Hollysys

China

Jilin Province Huinan Changlong Bio-pharmacy Company Limited manufactures and distributes biochemical medicines in China under the brand names of Changlong and Shendi. The Company also manufactures and distributes Chinese medicines and Western medicines.

Furen Pharmaceutical Group Industry Co., Ltd. is primarily engaged in the operation and management of its subsidiary, namely, Henan Furentang Pharmaceutical Co., Ltd., which manufactures proprietary pharmaceuticals.

Furen Pharmaceutical Grp Industry (600781 CH)

Hangzhou Tian-Mu-Shan Pharmaceutical Enterprise Co., Ltd. researches, manufactures, and markets traditional Chinese medicines, western medicines, and biomedicines.  The Company also manufactures printed circuit boards and paper products.

Hangzhou Tian Mu Shan Pharm. Enterp. Co (600671 CH)

Jilin Zixin Pharmaceutical Industrial Co., Ltd. mainly engages in the development, production and selling of Chinese medicine for Cardio Cerebral blood vessel disease, digestion system disease and bone fracture. The Company also plants herbs for making Chinese medicine.

Jilin Zixin Pharmaceutical Ind. Co., (002118 CH)

Kunming Longjin Pharmaceutical Co., Ltd. operates as a pharmaceutical manufacturer that fabricates, or processes drugs in pharmaceutical preparations for human and veterinary use.

Shenzhen Neptunus Interlong Bio-technique Co.Ltd. engages in the R&D, production, and sales and distribution of biological pharmaceuticals. The Company specializes in gene engineering drugs and preventive biological products.

Shenzhen Neptunus Interlong Bio Tech Co (8329 HK)

Guangdong Taiantang Pharmaceutical Co.,Ltd develops, manufactures and sells Chinese pharmaceuticals.  The Company's products include skin type ointments and pills, and cardiovascular drugs.

Guangdong Taiantang Pharmaceuticl (002433 CH)

Qinghai Gelatin Co., Ltd. manufactures and markets Chinese medicines and a series of gelatin products for pharmaceutical, food, photographic film, and industrial use.  The Company also produces hard capsules for pharmaceutical and cosmetic industries, as well as researches and produces biomedical products.

Hua Medicine operates as a drug development company. The Company develops and sells glucokinase activator and other products. Hua Medicine markets its products throughout China.

Sichuan Languang Development Co. Ltd. engages in manufacturing and sales of various medications. These products are mainly for paediatrics, gynaecology and skin disease treatment. The Company also manufactures medical equipments and pharmaceutical raw materials.

Samsung Pharmaceutical Co., Ltd. manufactures medicines to treat a variety of diseases.  The Company's products include medicines for inflammatory, nutrition, and digestive system.

Albert David Ltd. manufactures a variety of pharmaceutical products, vitamins, external application lotions, I.V. sets and disposable syringes and needles. The Company's leading products include "Plcentrex Lotion", "Adilox Capsules", "Sioplex Capsules", "Siotone" (a fitness capsule) and "Adliv Forte Capsule/Syrup" (for liver disorder).

Hwail Pharm Co., Ltd. produces pharmaceutical raw materials.  The Company's products include Talniflumate, Alibendol, and Oxatomide.  Hwail supplies these materials to companies dealing with finished pharmaceutical products.

Genovate Biotechnology Co., Ltd. produces and markets antimicrobial agents, antineoplastic agents, cardiovascular system drugs, digestive system drugs, external agents, nervous system drugs, non-addictive analgesics and anti-inflammatory drugs, urinary system drugs, and vitamins.

Jeil Pharma Holdings Inc. operates as a pharmaceutical manufacturing company. The Company manufactures analgesic anti-inflammatories, broad-spectrum oral antimicrobial agents, analgesic anti-cold poultice poultices, hyperlipidemia agents, intravenous antibiotics, and other products. Jeil Pharma Holdings markets its products throughout Korea.

Dongsung Pharmaceutical Co., Ltd. manufactures pharmaceutical products, such as antibiotics and dermatological medicines. The Company also produces and markets cosmetic products.

Kukje Pharma Ind. Co., Ltd. manufactures medical drugs.  The Company's products include antibiotics, vitamins, nutritional agents, and other drugs for supply to hospitals.  Kukje Pharma Ind. also sells apartments.

Daehan New Pharm Co., Ltd. develops, manufactures, and markets pharmaceutical drugs, such as vaccines, diagnostic kits, and antibiotics.  The Company also produces various veterinary drugs and baby cares.  Daehan New Pharm exports its products to Japan, Malaysia, Vietnam, and Brazil.

Y.S.P. Southeast Asia Holdings Bhd is an investment holding company. The Company, through its subsidiaries, imports, exports, manufactures and trades pharmaceutical and veterinary products.

Ind-Swift Laboratories Ltd. manufactures bulk drugs and intermediates.  The Company's product portfolio includes anti-infective, anti-allergy, analgesic and cardiovascular medicines.

Lansen Pharmaceutical holdings Ltd. is a pharmaceutical holding company. The Company's subsidiaries produce and sell rheumatic specialty prescription western pharmaceuticals in the Peoples Republic of China.

Lansen Pharmaceutical Holdings Co, Ltd. (503 HK)

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Lansen Pharmaceutical Holdings Co, Ltd. (503 HK)

Lansen Pharma (503 HK): 27th November Scheme Vote

It's an okay premium to last close, but enough for the Offer to get up. Trading wide at a 7.1%/51.1% gross/annualised spread. If small-cap,...

David Blennerhassett

Lansen Pharma (503 HK): The Chairman Makes An Offer

There's enough here for the Offer to get up. Terms have been declared final. Long-term shareholders would have also benefitted from the HK$1.55...

David Blennerhassett

Weiqiao Textile (2698 HK): 8th March Vote. Payment Late March

Weiqiao Textile is currently trading at a gross/annualised spread of 2.0%/12.0%. That's okay. Getting tight. This looks pretty clean here.

David Blennerhassett

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Adbri, Link Admin, Azure Minerals, Lithium Power, JSR Corp

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Sigma Health, Vinda, Outsourcing, Allkem, Costa, Hollysys

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

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52-week Range

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