IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/org-technology-co-ltd-a" target="_blank" data-smartkarma-citation="entities:17510:1" rel="noopener">ORG Technology Co., Ltd. A (002701 CH)</a> has received SAMR clearance, the key regulatory hurdle, for its HK$7.21 voluntary offer for <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC Holdings (906 HK)</a>.</li>
<li>SAMR approval paves the way for the ORG precondition to be satisfied in September. Changping Industrial’s HK$6.87 offer first close is on 3 September.</li>
<li>Changping Industrial has little choice but to revise its terms. It has a short window to seize the initiative by bumping its offer before ORG’s competing and higher offer opens. </li>
</ul>



ORG Technology Co., Ltd. A (002701 CH) has received SAMR clearance, the key regulatory hurdle, for its HK$7.21 voluntary offer for CPMC Holdings (906 HK).
SAMR approval paves the way for the ORG precondition to be satisfied in September. Changping Industrial’s HK$6.87 offer first close is on 3 September.
Changping Industrial has little choice but to revise its terms. It has a short window to seize the initiative by bumping its offer before ORG’s competing and higher offer opens. 


CPMC Holdings (906 HK): The Battle Is Heating up as ORG Clears a Key Regulatory Hurdle

<ul>
<li>The <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC Holdings (906 HK)</a> Board recommends that shareholders accept Changping Industrial’s HK$6.87 offer, which the IFA opines is fair and reasonable.</li>
<li>The Board's carefully crafted and suitably caveated recommendation acknowledges that shares continue to trade through terms and <a href="https://www.smartkarma.com/entities/org-technology-co-ltd-a" target="_blank" data-smartkarma-citation="entities:17510:1" rel="noopener">ORG Technology Co., Ltd. A (002701 CH)</a>’s HK$7.21 offer is higher but preconditional. </li>
<li>Based on ORG's shareholding/irrevocable and volume traded above terms, Changping Industrial’s offer has little chance of success. It remains a question of when, not if, Changping Industrial will bump.</li>
</ul>


The CPMC Holdings (906 HK) Board recommends that shareholders accept Changping Industrial’s HK$6.87 offer, which the IFA opines is fair and reasonable.
The Board's carefully crafted and suitably caveated recommendation acknowledges that shares continue to trade through terms and ORG Technology Co., Ltd. A (002701 CH)’s HK$7.21 offer is higher but preconditional. 
Based on ORG's shareholding/irrevocable and volume traded above terms, Changping Industrial’s offer has little chance of success. It remains a question of when, not if, Changping Industrial will bump.


CPMC Holdings (906 HK): A Carefully Caveated Board Recommendation of Changping Industrial’s Offer

Hong Kong

Hung Hing Printing Group Limited, through its subsidiaries, manufactures and prints paper and carton boxes.  The Company also trades paper and manufactures corrugated cartons.

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Hung Hing Print (450 HK)

CPMC Holdings (906 HK): The Battle Is Heating up as ORG Clears a Key Regulatory Hurdle

On the first closing date, Changping Industrial offer has let its offer lapse as acceptances (30.9% of out. shares) came well below the 50% minimum...

Arun George

CPMC Holdings (906 HK): A Carefully Caveated Board Recommendation of Changping Industrial’s Offer

Based on ORG's shareholding/irrevocable and volume traded above terms, Changping Industrial’s offer has little chance of success. It remains a...

Arun George

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