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

Jiayuan Services (1153 HK): Small Player At A Big Price

Quiddity Advisors

Event-Driven

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<p><a href="https://www.smartkarma.com/entities/jiayuan-international-group" target="_blank" data-smartkarma-citation="entities:22631:1" rel="noopener">Jiayuan International (2768 HK)</a>'s (Jiayuan) wholly-owned property management services arm <a href="https://www.smartkarma.com/entities/jiayuan-services-holdings-limited" target="_blank" data-smartkarma-citation="entities:29205:1" rel="noopener">Jiayuan Services (1153 HK)</a> ("JSH") priced its <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1207/2020120700092.pdf" target="_blank" rel="noopener">global offering</a> yesterday and will commence trading today.</p>
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<p>JSH expects to raise HK$0.579bn (US$0.074bn), before over-allotment.  Following the Offer, and before the over-allotment, Jiayuan's stake will decline to 75%.</p>
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<p>Jiayuan is trading marginally above its peers, and its implied stub P/B is towards the upper end of the range compared to other parents of property management spin-offs. </p>
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<p>More below the fold.</p>
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Jiayuan International (2768 HK)'s (Jiayuan) wholly-owned property management services arm Jiayuan Services (1153 HK) ("JSH") priced its global offering yesterday and will commence trading today.


JSH expects to raise HK$0.579bn (US$0.074bn), before over-allotment.  Following the Offer, and before the over-allotment, Jiayuan's stake will decline to 75%.


Jiayuan is trading marginally above its peers, and its implied stub P/B is towards the upper end of the range compared to other parents of property management spin-offs. 


More below the fold.


Jiayuan Services Holdings Limited (1153 HK)

Jiayuan Int'l (2768 HK): Fully Priced Ahead Of Jiayuan Services Spin-Off