Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Flexible printed board player <a href="https://www.smartkarma.com/entities/akm-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:7206:1" rel="noopener">AKM Industrial (1639 HK)</a> has announced the approvals for the pre-conditions attached to the Scheme are in the final stages.</li>
<li>Separately, the Court date for sanctioning the Scheme has been listed for the 19 July.</li>
<li>Trading at a gross spread to terms of 3.6%, including the final dividend.</li>
</ul>


Flexible printed board player AKM Industrial (1639 HK) has announced the approvals for the pre-conditions attached to the Scheme are in the final stages.
Separately, the Court date for sanctioning the Scheme has been listed for the 19 July.
Trading at a gross spread to terms of 3.6%, including the final dividend.


AKM (1639 HK): Timeline Clarified As Pre-Conditions Nearly Fulfilled

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hochtief-ag" target="_blank" data-smartkarma-citation="entities:21652:1" rel="noopener">Hochtief AG (HOT GR)</a> has finally launched an unconditional offer for the rest of <a href="https://www.smartkarma.com/entities/cimic-group-ltd" target="_blank" data-smartkarma-citation="entities:20030:1" rel="noopener">CIMIC Group Ltd (CIM AU)</a> (where it already owns 78.58%).</li>
<li>
<a href="https://www.smartkarma.com/entities/sk-square-co-ltd" target="_blank" data-smartkarma-citation="entities:35264:1" rel="noopener">SK Square (402340 KS)</a> was inexpensive after its November listing. Now it's even cheaper. </li>
<li>Canada-Based asset manager <a href="https://www.smartkarma.com/entities/brookfield-asset-manage-cl-a-0483cfb5-71a5-4931-af80-901e5f30aace" target="_blank" data-smartkarma-citation="entities:23741:1" rel="noopener">Brookfield Asset Management (BAM US)</a> and Australian billionaire Mike Cannon-Brookes have combined to purchase all of <a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a> at A$7.50/share</li>
</ul>



Hochtief AG (HOT GR) has finally launched an unconditional offer for the rest of CIMIC Group Ltd (CIM AU) (where it already owns 78.58%).

SK Square (402340 KS) was inexpensive after its November listing. Now it's even cheaper. 
Canada-Based asset manager Brookfield Asset Management (BAM US) and Australian billionaire Mike Cannon-Brookes have combined to purchase all of AGL Energy Ltd (AGL AU) at A$7.50/share


Last Week in Event SPACE: CIMIC, SK Square, AGL Energy, Mapletree, Z Energy, VW/Porsche

Last Week in Event SPACE: Kerry Logistics, Sanken Electric, Vocus Comms, Toa Oil, ThaiBev, Sharp

On the 18 December last year, <a href="https://www.smartkarma.com/entities/allied-group-ltd" target="_blank" data-smartkarma-citation="entities:4387:1" rel="noopener">Allied (373 HK)</a> made an <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1218/2020121801069.pdf" target="_blank" rel="noopener">Offer</a> for 75%-held <a href="https://www.smartkarma.com/entities/shk-hong-kong-industries-ltd" target="_blank" data-smartkarma-citation="entities:2399:1" rel="noopener">Shk Hong Kong Industries (666 HK)</a>, by way of a Scheme, at $0.21/share (cash), a 50.00% premium to last close.  The Offer price is final. There is no headcount test as SHK is HK-incorporated.
The Scheme Document has now been <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0210/2021021001027.pdf" target="_blank" rel="noopener">despatched</a>. The Court Meeting will be held on the 12 March, and assuming Disinterested Shareholders approve the Scheme resolutions, payment is expected on the 3 May.
The IFA - Pelican Financial - considers the Offer terms to be "fair and reasonable". 
This looks done.
As always, more below the fold.

On the 18 December last year, Allied (373 HK) made an Offer for 75%-held Shk Hong Kong Industries (666 HK), by way of a Scheme, at $0.21/share (cash), a 50.00% premium to last close.  The Offer price is final. There is no headcount test as SHK is HK-incorporated.
The Scheme Document has now been despatched. The Court Meeting will be held on the 12 March, and assuming Disinterested Shareholders approve the Scheme resolutions, payment is expected on the 3 May.
The IFA - Pelican Financial - considers the Offer terms to be "fair and reasonable". 
This looks done.
As always, more below the fold.

SHK (666 HK): Scheme Doc Out, IFA Says Fair

Last Week in Event SPACE: Shinsei Bank, Huifu Payment, Vedanta, Cardinal Resources, Jih Sun Finance

Hong Kong

SHK Hong Kong Industries is an investment holding company primarily engaged in investing in various financial instruments, including listed and unlisted securities, bonds, and investment funds across global markets such as Hong Kong, Malaysia, the United States, and Taiwan. The company's portfolio also includes direct and indirect investments. It was founded in 1989 and is headquartered in Hong Kong.

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SHK Hong Kong Industries (666 HK)

AKM (1639 HK): Timeline Clarified As Pre-Conditions Nearly Fulfilled

At HK$1.77/share as I type, AKM is currently trading at a gross/annualised spread of 2.8%/8.1% - excluding any dividends - and 3.6%/10.6% with the...

David Blennerhassett

Last Week in Event SPACE: CIMIC, SK Square, AGL Energy, Mapletree, Z Energy, VW/Porsche

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Last Week in Event SPACE: Kerry Logistics, Sanken Electric, Vocus Comms, Toa Oil, ThaiBev, Sharp

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

SHK (666 HK): Scheme Doc Out, IFA Says Fair

It's an okay spread for SHK - gross/annualised spread of 2.9%/14%. I like AGL - I think the Lee family will also privatise the company in the near...

David Blennerhassett

Last Week in Event SPACE: Shinsei Bank, Huifu Payment, Vedanta, Cardinal Resources, Jih Sun Finance

The weekend is upon us - pour yourself some coffee (or mulled wine) and sift through a brief summary of insights on various events discussed during...

David Blennerhassett

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