Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Tianneng Power International / Event-Driven

<ul>
<li>In January 2021, <strong><a href="https://www.smartkarma.com/entities/tianneng-power-international-ltd" target="_blank" data-smartkarma-citation="entities:18978:1" rel="noopener">Tianneng Power (819 HK)</a></strong>'s (TPI) battery unit <strong><a href="https://www.smartkarma.com/entities/tianneng-battery-group-co-ltd" target="_blank" data-smartkarma-citation="entities:33458:1" rel="noopener">Tianneng Battery (688819 CH)</a></strong> (TBG) was listed on China's Star Market, as discussed in <a href="https://skr.ma/TcCjv" target="_blank" rel="noopener"><em>Tianneng: Star Market Battery Spin-Off Priced</em>. </a>
</li>
<li>TBG is now proposing the issuance of GDRs, accounting for 10% of existing shares out, to be listed on the SIX Swiss Exchange.  </li>
<li>A circular has been issued and TPI shareholders go to the vote on the 31 January. TPI currently holds 86.53% in TBG worth &gt;300% of its market cap.</li>
</ul>


In January 2021, Tianneng Power (819 HK)'s (TPI) battery unit Tianneng Battery (688819 CH) (TBG) was listed on China's Star Market, as discussed in Tianneng: Star Market Battery Spin-Off Priced. 

TBG is now proposing the issuance of GDRs, accounting for 10% of existing shares out, to be listed on the SIX Swiss Exchange.  
A circular has been issued and TPI shareholders go to the vote on the 31 January. TPI currently holds 86.53% in TBG worth &gt;300% of its market cap.


Tianneng (819 HK): EV Battery Play Seeks Swiss Listing

<div>
<p>After first <a href="http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/1109/LTN201811091011.pdf" target="_blank" rel="noopener">announcing</a> the possible spin-off and separate listing of Tianneng Battery Group ("TBG") on the 9 November 2018, <a href="https://www.smartkarma.com/entities/tianneng-power-intl-ltd" target="_blank" data-smartkarma-citation="entities:18978:1" rel="noopener">Tianneng Power Intl (819 HK)</a> ("TPI") announced on the 15 December that the proposed A-share listing on the Star Board had been <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1215/2020121501202.pdf" target="_blank" rel="noopener">approved</a> by the CSRC.</p>
<p>An Offer Price of RMB41.79/share has now been <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0103/2021010300069.pdf" target="_blank" rel="noopener">announced</a>. That is 36% higher than the Indicative Offer Price of RMB30.65 flagged in the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0624/ltn201906241058.pdf" target="_blank" rel="noopener">June 2019 prospectus</a>. Listing is expected to take place between mid-late Jan, according to my conversation with TPI's IR. </p>
<p>TPI is up 204% in the past year and 35% since the CSRC approval. Today's relatively lacklustre share price response to TBG's pricing would indicate TPI's pricing is full. </p>
</div>
<div>
<p>More below the fold.</p>
</div>


After first announcing the possible spin-off and separate listing of Tianneng Battery Group ("TBG") on the 9 November 2018, Tianneng Power Intl (819 HK) ("TPI") announced on the 15 December that the proposed A-share listing on the Star Board had been approved by the CSRC.
An Offer Price of RMB41.79/share has now been announced. That is 36% higher than the Indicative Offer Price of RMB30.65 flagged in the June 2019 prospectus. Listing is expected to take place between mid-late Jan, according to my conversation with TPI's IR. 
TPI is up 204% in the past year and 35% since the CSRC approval. Today's relatively lacklustre share price response to TBG's pricing would indicate TPI's pricing is full. 


More below the fold.


Tianneng (819 HK): Star Market Battery Spin-Off Priced

China

Shenzhen Center Power Tech. Co., Ltd manufactures and sells storage batteries. The Company's products include battery for electric vehicles, deep-cycling battery, and colloid battery.

Shenzhen Center Power Tech Co (002733 CH)

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Shenzhen Center Power Tech Co (002733 CH)

Tianneng (819 HK): EV Battery Play Seeks Swiss Listing

TBG is seeking a GDR listing in Zurich. The holding in TBG accounts for 307% of TPI's market cap. TPI is mispriced. But it may simply remain...

David Blennerhassett

Tianneng (819 HK): Star Market Battery Spin-Off Priced

In my prior insight, I recommended buying TPI on the expectation it retests its July high. It achieved that today. If you were already in, I'd be...

David Blennerhassett

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