This is an interesting, albeit illiquid, Partial Offer. The final pro-ration was ~45% in the partial for Hengdeli, in which the Offer price was similarly mispriced. I could see a similar % for Zhihu.
What is covered in the Full Insight:
Introduction to the Buyback
Key Conditions and Mechanics
Shareholders and Pro-ration
Trade Analysis
Company Overview and Financials
SUMMARY
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