Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The bigger question for investors is whether <a href="https://www.smartkarma.com/entities/denso-corp" target="_blank" data-smartkarma-citation="entities:18703:1" rel="noopener">Denso Corp (6902 JP)</a> will keep up with global auto market needs or will they suffer as Toyota may suffer?</li>
<li>The FSS may put the breaks on <a href="https://www.smartkarma.com/entities/korea-zinc-co-ltd" target="_blank" data-smartkarma-citation="entities:17944:1" rel="noopener">Korea Zinc (010130 KS)</a>'s massive capital raise. </li>
<li>Murakami-San has won <a href="https://www.smartkarma.com/entities/exedy-corp" target="_blank" data-smartkarma-citation="entities:6516:1" rel="noopener">Exedy Corp (7278 JP)</a>. The company has decided to up its dividend payout and future dividend payout ratio and buy back a boatload of shares. </li>
</ul>


The bigger question for investors is whether Denso Corp (6902 JP) will keep up with global auto market needs or will they suffer as Toyota may suffer?
The FSS may put the breaks on Korea Zinc (010130 KS)'s massive capital raise. 
Murakami-San has won Exedy Corp (7278 JP). The company has decided to up its dividend payout and future dividend payout ratio and buy back a boatload of shares. 


Last Week in Event SPACE: Denso/Toyota, Korea Zinc, Exedy, Good Drinks, Shinsegae

Canvest Environmental Protection Group / Event-Driven

<ul>
<li>I tally 40 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Four new deals discussed this week: Schemes for <a href="https://www.smartkarma.com/entities/beijing-capital-grand-ltd" target="_blank" data-smartkarma-citation="entities:18241:1" rel="noopener">Beijing Capital Grand (1329 HK)</a> and <a href="https://www.smartkarma.com/entities/cm-hi-tech-cleanroom-limited" target="_blank" data-smartkarma-citation="entities:44057:1" rel="noopener">CM Hi-Tech (2115 HK)</a>, and Tender Offers for <a href="https://www.smartkarma.com/entities/elematec-corp" target="_blank" data-smartkarma-citation="entities:2866:1" rel="noopener">Elematec (2715 JP)</a> and <a href="https://www.smartkarma.com/entities/nec-networks-system-integr" target="_blank" data-smartkarma-citation="entities:16396:1" rel="noopener">Nec Networks (1973 JP)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/hotel-property-investments" target="_blank" data-smartkarma-citation="entities:9850:1" rel="noopener">Hotel Property Investments (HPI AU)</a>, <a href="https://www.smartkarma.com/entities/canvest-environmental-protection-group-co-ltd" target="_blank" data-smartkarma-citation="entities:100:1" rel="noopener">Canvest Environmental Protection Group (1381 HK)</a> and <a href="https://www.smartkarma.com/entities/capitol-health-ltd" target="_blank" data-smartkarma-citation="entities:14504:1" rel="noopener">Capitol Health (CAJ AU)</a>.</li>
</ul>


I tally 40 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Four new deals discussed this week: Schemes for Beijing Capital Grand (1329 HK) and CM Hi-Tech (2115 HK), and Tender Offers for Elematec (2715 JP) and Nec Networks (1973 JP).
Key updates took place on: Hotel Property Investments (HPI AU), Canvest Environmental Protection Group (1381 HK) and Capitol Health (CAJ AU).


(Mostly) Asia-Pac M&A: Beijing Capital Grand, Elematec, Nec Networks, Hotel Property Invest, Canvest

<ul>
<li>On the 14th October, cleanroom play <a href="https://www.smartkarma.com/entities/cm-hi-tech-cleanroom-limited" target="_blank" data-smartkarma-citation="entities:44057:1" rel="noopener">CM Hi-Tech Cleanroom (2115 HK)</a> announced a <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1014/2024101401232.pdf" target="_blank" rel="noopener">pre-conditional Offer</a> by way of a Scheme from <a href="https://www.smartkarma.com/entities/mayair-technology-china-co-ltd" target="_blank" data-smartkarma-citation="entities:44058:1" rel="noopener">MayAir Technology (688376 CH)</a> and CM Hi-Tech's senior management.</li>
<li>HK$0.25/Share (best &amp; final) is the Cancellation Price, or a 25% premium to undisturbed. Rollover shareholders and concert parties collectively hold 55.27%, leaving 44.73% held by disinterested shareholders .</li>
<li>MayAir shareholders have now <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1030/2024103001533.pdf" target="_blank" rel="noopener">approved</a> the Offer. Other pre-cons include NDRC, Mofcom and SAFE.  The pre-conditional long-stop is the 13 December 2025. That's an unrealistic timeline.</li>
</ul>


On the 14th October, cleanroom play CM Hi-Tech Cleanroom (2115 HK) announced a pre-conditional Offer by way of a Scheme from MayAir Technology (688376 CH) and CM Hi-Tech's senior management.
HK$0.25/Share (best &amp; final) is the Cancellation Price, or a 25% premium to undisturbed. Rollover shareholders and concert parties collectively hold 55.27%, leaving 44.73% held by disinterested shareholders .
MayAir shareholders have now approved the Offer. Other pre-cons include NDRC, Mofcom and SAFE.  The pre-conditional long-stop is the 13 December 2025. That's an unrealistic timeline.


China

MayAir Technology (China) Co., Ltd. provides clean air solutions. The Company develops and produces air filter, primary filter, auto roll filter, pharma purification equipment, and other products. MayAir Technology (China) markets its products worldwide.

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MayAir Technology (688376 CH)

Last Week in Event SPACE: Denso/Toyota, Korea Zinc, Exedy, Good Drinks, Shinsegae

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

(Mostly) Asia-Pac M&A: Beijing Capital Grand, Elematec, Nec Networks, Hotel Property Invest, Canvest

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

CM Hi-Tech (2115 HK)'s Strange Offer

Trading at a 10.1%/34.1% gross/annualised spread, if late Feb payment. If small, illiquid arbs are your thing, you might get involved here....

David Blennerhassett

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