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

CMEC (1829 HK): Clarity On Timing As Pre-Cons Fulfilled

China Machinery Engineering (1829 HK): Delisting Offer From Parent

China Machinery Engineering (1829 HK): Movement In The Works?

Quiddity Advisors

Event-Driven

China Machinery Engineering / Event-Driven

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<p>On the 13 January 2021, <a href="https://www.smartkarma.com/entities/china-machinery-engineering-corp" target="_blank" data-smartkarma-citation="entities:10998:1" rel="noopener">China Machinery Engineering (1829 HK)</a> <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0113/2021011300422.pdf" target="_blank" rel="noopener">announced</a> a pre-conditional Offer from its controlling shareholder, state-owned Chinese National Machinery Industry Corporation, also known as SINOMACH. The Offer price was HK$3.70/share, a 45.10% premium to last close. </p>
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<p>A nervous 20 weeks later, CMEC <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0603/2021060300532.pdf" target="_blank" rel="noopener">announced</a> the preconditions - NDRC, MOFCOM &amp; SAFE - had been fulfilled.</p>
<p>The Circular is now <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0706/2021070600007.pdf" target="_blank" rel="noopener">out</a>.  The H-class meeting will be held on the 28 July, and assuming all conditions are satisfied, the consideration under the Offer will be paid on or before the 17 August.</p>
<p>This is a low-balled Offer, although the IFA (Somerley) disagrees. Nevertheless, this deal is expected to get up and is currently trading tight to terms.</p>
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<p>More below the fold. </p>
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On the 13 January 2021, China Machinery Engineering (1829 HK) announced a pre-conditional Offer from its controlling shareholder, state-owned Chinese National Machinery Industry Corporation, also known as SINOMACH. The Offer price was HK$3.70/share, a 45.10% premium to last close. 


A nervous 20 weeks later, CMEC announced the preconditions - NDRC, MOFCOM &amp; SAFE - had been fulfilled.
The Circular is now out.  The H-class meeting will be held on the 28 July, and assuming all conditions are satisfied, the consideration under the Offer will be paid on or before the 17 August.
This is a low-balled Offer, although the IFA (Somerley) disagrees. Nevertheless, this deal is expected to get up and is currently trading tight to terms.



More below the fold. 


CMEC (1829 HK): Circ Out. H-Class Meeting Firmed. Looks Done