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

Golden Land: Tender Offer Into The Home Straight

Quiddity Advisors

Thematic (Sector/Industry)

Hong kong It / Thematic (Sector/Industry)

<p><em>This is part of a series of M&amp;A guides that our Quiddity* team (see our profiles or the footnote below) are publishing to aid investors in understanding the rules, parameters, possibilities, and processes when companies conduct mergers and acquisitions. These insights are designed to be used as a reference.</em></p>
<hr>
<h2>Governing Laws</h2>
<p style="text-align: start;">Public M&amp;A in Hong Kong is mainly governed by the following rules and regulations. </p>
<ul>
<li>The Codes on Takeovers and Mergers and Share Buy-backs (<a href="https://www.sfc.hk/web/EN/assets/components/codes/files-current/web/codes/the-codes-on-takeovers-and-mergers-and-share-buy-backs/the-codes-on-takeovers-and-mergers-and-share-buy-backs.pdf" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.sfc.hk/web/EN/assets/components/codes/files-current/web/codes/the-codes-on-takeovers-and-mergers-and-share-buy-backs/the-codes-on-takeovers-and-mergers-and-share-buy-backs.pdf&amp;source=gmail&amp;ust=1555146488722000&amp;usg=AFQjCNFUFNYuz9mfmlz0GmypuY9MpWphkw">Takeovers Code</a>)</li>
<li>The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (<a href="http://en-rules.hkex.com.hk/sites/default/files/net_file_store/new_rulebooks/c/o/consol_mb.pdf" target="_blank" data-saferedirecturl="https://www.google.com/url?q=http://en-rules.hkex.com.hk/sites/default/files/net_file_store/new_rulebooks/c/o/consol_mb.pdf&amp;source=gmail&amp;ust=1555146488722000&amp;usg=AFQjCNGnk3-uz4prp7Kp8rPSul-p3Y9PpA">Main Board Listing Rules</a>)</li>
<li>The Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (<a href="http://en-rules.hkex.com.hk/sites/default/files/net_file_store/new_rulebooks/c/o/consol_gem.pdf" target="_blank" data-saferedirecturl="https://www.google.com/url?q=http://en-rules.hkex.com.hk/sites/default/files/net_file_store/new_rulebooks/c/o/consol_gem.pdf&amp;source=gmail&amp;ust=1555146488722000&amp;usg=AFQjCNFpPvkwJUg9ntGrqePZoJ0XGVjCRw">GEM Listing Rules</a>)</li>
<li>
<a href="https://www.elegislation.gov.hk/hk/cap622" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap622&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNFwveicAU7g-2J5HXPtOnOtEGYuoQ">Companies Ordinance</a> (Chapter 622, Laws of Hong Kong)</li>
<li>
<a href="https://www.elegislation.gov.hk/hk/cap571" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap571&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNGCXoUVnKVrIoUWgyrYUkN3yvm3xQ">Securities and Futures Ordinance</a> (Chapter 571, Laws of Hong Kong)</li>
</ul>
<p style="text-align: start;">In addition to the rules and regulations mentioned above, companies in certain sectors are governed by additional industry-specific regulations and statutes as the examples shown in the table below. </p>
<table class="table table-striped">
<tbody>
<tr>
<td>
<h2>Industry</h2>
</td>
<td>
<h2>Laws</h2>
</td>
</tr>
<tr>
<td>Banking Sector</td>
<td>
<a href="https://www.elegislation.gov.hk/hk/cap155" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap155&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNFmc4xygHq_isTMG58W7zSrB-spog">Banking Ordinance</a> (Chapter 155, Laws of Hong Kong)</td>
</tr>
<tr>
<td>Insurance Sector</td>
<td>
<a href="https://www.elegislation.gov.hk/hk/cap41" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap41&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNHR3zNiHNurXr4emOPqjMF-eb58jQ">Insurance Ordinance</a> (Chapter 41, Laws of Hong Kong)</td>
</tr>
<tr>
<td>Telecom and Broadcasting Sector</td>
<td>
<p><a href="https://www.elegislation.gov.hk/hk/cap106" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap106&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNEvIGj142NZnCpk3doXLDWi0zRIOw">Telecommunications Ordinance</a> (Chapter 106, Laws of Hong Kong)</p>
<p><a href="https://www.elegislation.gov.hk/hk/cap562" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap562&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNE95miLY6uXOIgDBqF5Kf1-RU0ORQ">Broadcasting Ordinance</a> (Chapter 562, Laws of Hong Kong)</p>
<p><a href="https://www.elegislation.gov.hk/hk/cap619" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.elegislation.gov.hk/hk/cap619&amp;source=gmail&amp;ust=1555146488723000&amp;usg=AFQjCNHvgdbwWK4QR21w3cATwTx3vdTRZw">Competition Ordinance</a> (Chapter 619, Laws of Hong Kong)</p>
</td>
</tr>
</tbody>
</table>

This is part of a series of M&amp;A guides that our Quiddity* team (see our profiles or the footnote below) are publishing to aid investors in understanding the rules, parameters, possibilities, and processes when companies conduct mergers and acquisitions. These insights are designed to be used as a reference.

Governing Laws
Public M&amp;A in Hong Kong is mainly governed by the following rules and regulations. 

The Codes on Takeovers and Mergers and Share Buy-backs (Takeovers Code)
The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (Main Board Listing Rules)
The Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (GEM Listing Rules)

Companies Ordinance (Chapter 622, Laws of Hong Kong)

Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong)

In addition to the rules and regulations mentioned above, companies in certain sectors are governed by additional industry-specific regulations and statutes as the examples shown in the table below. 




Industry


Laws



Banking Sector

Banking Ordinance (Chapter 155, Laws of Hong Kong)


Insurance Sector

Insurance Ordinance (Chapter 41, Laws of Hong Kong)


Telecom and Broadcasting Sector

Telecommunications Ordinance (Chapter 106, Laws of Hong Kong)
Broadcasting Ordinance (Chapter 562, Laws of Hong Kong)
Competition Ordinance (Chapter 619, Laws of Hong Kong)





Quiddity Hong Kong M&A Guide 2019