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In today’s briefing:
- GAPack (468 HK): Mengniu & Bi Weigh Options On Shandong Xinjufeng’s VGO
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GAPack (468 HK): Mengniu & Bi Weigh Options On Shandong Xinjufeng’s VGO
- Back in September 2023, Jardine Matheson Holdings (JM SP) sold its 28.22% stake in Greatview Aseptic Packaging (468 HK) to Shandong Xinjufeng Technology Packaging (301296 CH) (XJF).
- Then in November, XJF requisitioned an EGM to spill the board. At the EGM on the 26th January, not one of XJF’s five new proposed appointments were successful.
- XJF has now made a pre-conditional (various PRC approvals) voluntary general Offer at $2.65/share (best & final), contingent on a 50% acceptance hurdle. Final/special dividends to be added.