In today’s briefing:
- Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm
- (Mostly) Asia-Pac Weekly Risk Arb Wrap: Lutronic, Hailan, Mason, Tesserent, Kenedix
Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm
- Viva Biotech Holdings (1873 HK) is raising RMB1.06 billion (~$150 million) through offloading ~24% of its equity interest in Viva Shanghai, the primary entity of the company’s CRO business.
- The consideration implies a revenue ratio and gross profit ratio of 4.90x and 11.04x, respectively. The ratios are at the similar level of the average ratios of other comparable peers.
- Going ahead, Viva Biotech is planning to spin off its CRO business for separate listing in the A-shares market. IPO application is expected to be filed by June 30, 2024.
(Mostly) Asia-Pac Weekly Risk Arb Wrap: Lutronic, Hailan, Mason, Tesserent, Kenedix
- There are xx – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Five new deals were discussed this week: Lutronic (085370 KS) tender Offer;Hailan (2278 HK)‘s VGO; Mason (273 HK)‘s Scheme; Tesserent (TNT AU)Scheme, & Kenedix Office (8972 JP)‘s merger.
- Key updates took place for Toyo Construction (1890 JP), Inner Mongolia Yitai Coal Company Ltd (3948 HK), and HKBN Ltd (1310 HK).
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