Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The Scheme Document Document for <a href="https://www.smartkarma.com/entities/akm-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:7206:1" rel="noopener">AKM Industrial (1639 HK)</a>, a flexible printed board player, has been <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0531/2022053100007.pdf" target="_blank" rel="noopener">despatched</a>.  The Scheme Meeting will be held on the 22nd June. </li>
<li>The Offer Price is HK$1.82/share. It will not be increased. No further dividends will be added, </li>
<li>Trading tight at a gross/annualised spread of 1.1%/6.4%, assuming payment in early August.</li>
</ul>


The Scheme Document Document for AKM Industrial (1639 HK), a flexible printed board player, has been despatched.  The Scheme Meeting will be held on the 22nd June. 
The Offer Price is HK$1.82/share. It will not be increased. No further dividends will be added, 
Trading tight at a gross/annualised spread of 1.1%/6.4%, assuming payment in early August.


AKM (1639 HK): 22nd June Scheme Meeting. IFA Says Fair

<ul>
<li>Flexible printed board player <a href="https://www.smartkarma.com/entities/akm-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:7206:1" rel="noopener">AKM Industrial (1639 HK)</a> has announced the pre-conditions attached to the Scheme have now been fulfilled.</li>
<li>The despatch of the Scheme Document has been delayed until the 10 June. </li>
<li>Trading at a gross/annualised spread of 2.5/9.6%, including the FY21 final dividend, and payment in early August.</li>
</ul>


Flexible printed board player AKM Industrial (1639 HK) has announced the pre-conditions attached to the Scheme have now been fulfilled.
The despatch of the Scheme Document has been delayed until the 10 June. 
Trading at a gross/annualised spread of 2.5/9.6%, including the FY21 final dividend, and payment in early August.


AKM (1639 HK): Pre-Cons Fulfilled; Possible Early August Payment

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/akm-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:7206:1" rel="noopener">AKM Industrial (1639 HK)</a>’s privatisation offer from Alpha Luck and AKM Meadville of HK$1.8345 consists of a base offer (HK$1.82) and a final dividend (HK1.45 cents). </li>
<li>Approval from the State Administration of Foreign Exchange is the remaining pre-condition. The Court hearing of the petition for the sanction of the scheme is set for 19 July.</li>
<li>At last close and for a July end effective date, the gross and annualised spread to the total offer of HK$1.8345 is 3.6% and 11.2%, respectively.</li>
</ul>



AKM Industrial (1639 HK)’s privatisation offer from Alpha Luck and AKM Meadville of HK$1.8345 consists of a base offer (HK$1.82) and a final dividend (HK1.45 cents). 
Approval from the State Administration of Foreign Exchange is the remaining pre-condition. The Court hearing of the petition for the sanction of the scheme is set for 19 July.
At last close and for a July end effective date, the gross and annualised spread to the total offer of HK$1.8345 is 3.6% and 11.2%, respectively.


AKM Industrial’s Offer Spread Risk/Reward

<ul>
<li>Flexible printed board player <a href="https://www.smartkarma.com/entities/akm-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:7206:1" rel="noopener">AKM Industrial (1639 HK)</a> has announced the approvals for the pre-conditions attached to the Scheme are in the final stages.</li>
<li>Separately, the Court date for sanctioning the Scheme has been listed for the 19 July.</li>
<li>Trading at a gross spread to terms of 3.6%, including the final dividend.</li>
</ul>


Flexible printed board player AKM Industrial (1639 HK) has announced the approvals for the pre-conditions attached to the Scheme are in the final stages.
Separately, the Court date for sanctioning the Scheme has been listed for the 19 July.
Trading at a gross spread to terms of 3.6%, including the final dividend.


AKM (1639 HK): Timeline Clarified As Pre-Conditions Nearly Fulfilled

<ul>
<li>Flexible printed board player <a href="https://www.smartkarma.com/entities/akm-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:7206:1" rel="noopener">Akm Industrial (1639 HK)</a> has <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0116/2022011600015.pdf" target="_blank" rel="noopener">announced</a> a pre-conditional Scheme from Alpha Luck and AKM Meadville at HK$1.82/share. The Offer price will NOT be increased.</li>
<li>Alpha Luck is ultimately held by SASAC and AKM Meadville by the government of Haicang District, Xiamen. The two intend to hold 40:60 respectively in the unlisted vehicle. </li>
<li>Various PRC regulatory approvals are required. This appears a transaction geared to complete. Timing is the key risk to the deal.</li>
</ul>


Flexible printed board player Akm Industrial (1639 HK) has announced a pre-conditional Scheme from Alpha Luck and AKM Meadville at HK$1.82/share. The Offer price will NOT be increased.
Alpha Luck is ultimately held by SASAC and AKM Meadville by the government of Haicang District, Xiamen. The two intend to hold 40:60 respectively in the unlisted vehicle. 
Various PRC regulatory approvals are required. This appears a transaction geared to complete. Timing is the key risk to the deal.


AKM Industrial (1639 HK): SASAC and Xiamen Government-Backed Pre-Conditional Offer

China

Suzhou Anjie Technology Company Limited manufactures and provides related functional devices services for laptops, cell phones and other consumer electronics brands terminal manufacturers. The Company's main products include internal and external functional components used in laptops and cell phones.

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Suzhou Anjie Technology (002635 CH)

AKM (1639 HK): 22nd June Scheme Meeting. IFA Says Fair

This is done and trading accordingly. The spread is not super attractive. Nor is the stock very liquid. Unless you want to lock in a 1% spread, I'd...

David Blennerhassett

AKM (1639 HK): Pre-Cons Fulfilled; Possible Early August Payment

This transaction is all stitched up. Play the spread here. At HK$1.79/share as I type, AKM is currently trading at a gross/annualised spread of...

David Blennerhassett

AKM Industrial’s Offer Spread Risk/Reward

Approval from the State Administration of Foreign Exchange is the remaining pre-condition. For a July end effective date, the annualised spread to...

Arun George

AKM (1639 HK): Timeline Clarified As Pre-Conditions Nearly Fulfilled

At HK$1.77/share as I type, AKM is currently trading at a gross/annualised spread of 2.8%/8.1% - excluding any dividends - and 3.6%/10.6% with the...

David Blennerhassett

AKM Industrial (1639 HK): SASAC and Xiamen Government-Backed Pre-Conditional Offer

This transaction looks done. At HK$1.68/share, AKM is currently trading at a gross/annualised spread of 8.3%/19.5%, assuming late 2Q22 completion,...

David Blennerhassett

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