In today’s briefing:
- Guodian’s H Share Class Meeting on 20 May, IFA Opinion
- ECM Weekly (2nd May 22) – LIC, Shieldus, One Store, Campus, Rainbow, Kakao Pay, Uju, GoTo, Zhongyuan
Guodian’s H Share Class Meeting on 20 May, IFA Opinion
- Guodian Technology & Environment Group (1296 HK)‘s composite document is out with the H Shareholders’ class meeting on 20 May. The IFA considers the offer to be fair and reasonable.
- The key condition for the privatisation is approval by at least 75% of independent H-shareholders (<10% of all independent H-shareholders rejection). There is no minimum acceptance condition.
- The H Shareholder with a blocking stake has provided an irrevocable. For a 9 June payment, the gross and annualised spread to the offer is 1.9% and 19.5%, respectively.
ECM Weekly (2nd May 22) – LIC, Shieldus, One Store, Campus, Rainbow, Kakao Pay, Uju, GoTo, Zhongyuan
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- On the IPOs front, Campus Activewear got great coverage, while Rainbow and Shieldus appear to be struggling.
- There were no large placements, apart from a selldown in Areit (AyalaLand REIT) (AREIT PM) and a friends and family round in Zhongyuan Bank (1216 HK).
Before it’s here, it’s on Smartkarma
