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

Quiddity Advisors

Event-Driven

Shanghai Prime Machinery H / Event-Driven

Shanghai Prime Machinery Company, a manufacturer of turbine blades, bearings, fasteners, has announced a pre-conditional privatisation Offer from its parent, SOE-<a href="https://www.smartkarma.com/entities/shanghai-electric-group-company-limited-d542164d-4d5a-4ce0-b33e-5fe6bc34722c" target="_blank" data-smartkarma-citation="entities:8777:1" rel="noopener">Shanghai Electric Group Company (2727 HK)</a> / <a href="https://www.smartkarma.com/entities/shanghai-electric-grp-co-l-a" target="_blank" data-smartkarma-citation="entities:101:1" rel="noopener">Shanghai Electric Group Company (601727 CH)</a>.
The cancellation price is HK$1.60/share, a 68.4% premium to last close. The price will not be increased. 
Pre-conditions include PRC regulatory approvals - NDRC, MOFCOM, and SAFE.
As Shanghai Prime is PRC incorporated, this delisting proposal is by way of a merger by absorption, which involves a Scheme-like vote from disinterested shareholders. There is no tendering acceptance condition attached to this delisting.
This is a pretty clean deal. Timing is the only unknown. The Long Stop date is the 3 June 2021, but this should be completed well before. The recent privatisation of <a href="https://www.smartkarma.com/entities/huadian-fuxin-energy-corp-ltd" target="_blank" data-smartkarma-citation="entities:59:1" rel="noopener">Huadian Fuxin Energy Corp (816 HK)</a>, also a pre-conditional merger by absorption, was wrapped up in four and a half months.

Shanghai Prime Machinery Company, a manufacturer of turbine blades, bearings, fasteners, has announced a pre-conditional privatisation Offer from its parent, SOE-Shanghai Electric Group Company (2727 HK) / Shanghai Electric Group Company (601727 CH).
The cancellation price is HK$1.60/share, a 68.4% premium to last close. The price will not be increased. 
Pre-conditions include PRC regulatory approvals - NDRC, MOFCOM, and SAFE.
As Shanghai Prime is PRC incorporated, this delisting proposal is by way of a merger by absorption, which involves a Scheme-like vote from disinterested shareholders. There is no tendering acceptance condition attached to this delisting.
This is a pretty clean deal. Timing is the only unknown. The Long Stop date is the 3 June 2021, but this should be completed well before. The recent privatisation of Huadian Fuxin Energy Corp (816 HK), also a pre-conditional merger by absorption, was wrapped up in four and a half months.

Shanghai Electric Group Company (601727 CH)

Shanghai Electric Group Company (2727 HK)

Shanghai Prime (2345 HK): Delisting Offer From Parent