Daily Brief China: Standard Chartered, Link REIT, Concord Healthcare Group, Sino-Ocean Group and more

• Back on the 5 January, First Abu Dhabi Bank (FAB DH) said it had considered a bid for Standard Chartered (STAN LN/2888 HK),  but was no longer evaluating an Offer.
• Such a statement kickstarts a six-month cooling-off period whereby FAB is restricted from reloading. This means all deal work must cease.  Unless another bidder emerges or STAN’s board approves. 
• In a curious development, STAN’s shares popped ~11% yesterday, on no apparent news.

• After being halted this morning before the start of trade, post-close, Link REIT (823 HK) announced a fully-underwritten Rights Offering. 
• The Rights Offering intends to raise HK$18.8bn issuing 1 Right for every 5 Shares held, at a subscription price of HK$44.20, a 26% discount to TERP. 
• This will take an already under-levered REIT and add more capital to it. And there is going to be selling pressure at some point.

• Concord Healthcare Group (CHG HK) is looking to raise at least US$100m in its upcoming Hong Kong IPO.
• Concord Healthcare (Concord) is an oncology health platform in China researching and implementing advanced oncology diagnostic and treatment technologies.
• As per Frost and Sullivan (F&S), in 2021, Concord was the market leader among private oncology healthcare groups in China, as measured by cancer treatment empowerment service revenue.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Wynn Macau Ltd
2. Vedanta Resources
3. Softbank Group
4. Country Garden Holdings Co
5. China Hongqiao

and more…