Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Smartkarma North Asia Weekly: Alibaba Antitrust, OFAC Clarification, China Logistics, & Kuaishou IPO

China Healthcare Policy Update - The Official Results of 2020 Medical Insurance Negotiations

Major Shareholders of CLPH (1589:HK) Selling! Revisiting Narrative & Valuations

JD.com Takes 9.9% Stake in China Logistics Property Holdings (1589:HK): Validation & Valuation

TRACKING TRAFFIC/Chinese Express & Logistics: March Growth Slows | ASPs Dip | But Intra-City Firmer

Quiddity Advisors

Equity Bottom-Up

China Logistics Property Holdings / Equity Bottom-Up

China Logistics Property Holdings (1589 HK)

<a href="https://www.smartkarma.com/entities/china-logistics-property-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:22799:1" rel="noopener">China Logistics Property Holdings (1589 HK)</a> (CLPH) has <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1229/2020122901322.pdf" target="_blank" rel="noopener">announced</a> its two largest shareholders - Li Shifa (chairman, holding ~28.2%) and RRJ Capital (~22.8%) - are "conducting a preliminary strategic review of their stakes in the Company, which involves up to approximately 51.5% shareholding of the Company."
The media is reporting these two shareholders are seeking a 20% premium to the unaffected price or around ~$4.70/share, roughly a four-year high.
A sale could potentially trigger an unconditional mandatory general offer; or it may be structured by way of a Scheme in which Li/RRJ provide irrevocables to vote in favour of the delisting resolutions.
This insight briefly looks at potential takeover scenarios. For some historical context and comparative analysis of CLPH to that of <a href="https://www.smartkarma.com/entities/global-logistic-properties-ltd" target="_blank" data-smartkarma-citation="entities:2894:1" rel="noopener">Global Logistic Properties (GLP SP)</a> when it was privatised back in 2017, please read <a href="https://www.smartkarma.com/profiles/daniel-hellberg" target="_blank" data-smartkarma-citation="accounts:605" rel="noopener">Daniel Hellberg</a>'s insight <a href="https://skr.ma/q45i6" target="_blank" rel="noopener">Major Shareholders of CLPH (1589:HK) Selling! Revisiting Narrative &amp; Valuations</a>.
More below the fold.

China Logistics Property Holdings (1589 HK) (CLPH) has announced its two largest shareholders - Li Shifa (chairman, holding ~28.2%) and RRJ Capital (~22.8%) - are "conducting a preliminary strategic review of their stakes in the Company, which involves up to approximately 51.5% shareholding of the Company."
The media is reporting these two shareholders are seeking a 20% premium to the unaffected price or around ~$4.70/share, roughly a four-year high.
A sale could potentially trigger an unconditional mandatory general offer; or it may be structured by way of a Scheme in which Li/RRJ provide irrevocables to vote in favour of the delisting resolutions.
This insight briefly looks at potential takeover scenarios. For some historical context and comparative analysis of CLPH to that of Global Logistic Properties (GLP SP) when it was privatised back in 2017, please read Daniel Hellberg's insight Major Shareholders of CLPH (1589:HK) Selling! Revisiting Narrative &amp; Valuations.
More below the fold. 

China Logistics (1589 HK): Possible Offer As Major Shareholders Seek Exit