In today’s briefing:
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- China Internet Investment Finance’s (810 HK): A Vague Offer Leads to a Sinking Feeling
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
China Internet Investment Finance’s (810 HK): A Vague Offer Leads to a Sinking Feeling
- China Internet Investment Finance Holdings (810 HK)/CIIF disclosed that it received a letter from a potential offeror, stating that it is considering making a voluntary conditional cash offer.
- The possible offer will have two conditions – a 50% minimum acceptance condition and that the shares remain listed. No price or timeline has been disclosed.
- An offer if it materialises, will likely be a take-under due to the presence of a willing seller (Chairman) seeking a liquidity event and CIIF’s unjustified share price run.
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