IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Allied Properties’ Privatisation by Allied Group

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Global Equity Research Ltd

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Event-Driven

<div><p>As a reminder, on 20 April, <a href="https://www.smartkarma.com/entities/allied-properties-hk-ltd" target="_blank" data-smartkarma-citation="entities:19953:1" rel="noopener">Allied Properties Hk (56 HK)</a>/APL received a privatisation offer from <a href="https://www.smartkarma.com/entities/allied-group-ltd" target="_blank" data-smartkarma-citation="entities:4387:1" rel="noopener">Allied (373 HK)</a>/AGL, the controlling shareholder with a 74.996% stake. AGL is taking private APL by offering a total HK$1.92 per scheme share. The scheme document was released today with the IFA considering that the terms of the proposal, the scheme and the scheme dividend are fair and reasonable. The court meeting and general meeting are scheduled for 15 July.</p></div><div><div><div class="content-highlight"><p>The key conditions precedent are - scheme approved by at least 75% disinterested shareholders (&lt;10% disinterested shareholders rejection) and passing of an ordinary resolution by the disinterested shareholders to approve the scheme dividend. Overall, as we believe that the offer is fair, the privatisation proposal should secure shareholder approval. </p></div></div></div>

As a reminder, on 20 April, Allied Properties Hk (56 HK)/APL received a privatisation offer from Allied (373 HK)/AGL, the controlling shareholder with a 74.996% stake. AGL is taking private APL by offering a total HK$1.92 per scheme share. The scheme document was released today with the IFA considering that the terms of the proposal, the scheme and the scheme dividend are fair and reasonable. The court meeting and general meeting are scheduled for 15 July.The key conditions precedent are - scheme approved by at least 75% disinterested shareholders (&lt;10% disinterested shareholders rejection) and passing of an ordinary resolution by the disinterested shareholders to approve the scheme dividend. Overall, as we believe that the offer is fair, the privatisation proposal should secure shareholder approval. 

Allied Properties’ Scheme Document, Key Dates

Allied Properties (H.K.)

Allied Properties’ Scheme Document, Key Dates