Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOE Beijing Capital Group has launched an Offer by way of a Scheme 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> (BCG) a commercial property developer in China.</li>
<li>HK$0.85/Share (best &amp; final) is the Cancellation Price, or a 46.55% premium to undisturbed. Irrevocables secured from 8.13% of the 37.92% held by disinterested shareholders on a fully diluted basis. </li>
<li>This looks done. All reg approvals appear to be locked in. The conditional long-stop is the 28 July 2025. That's a conservative timeline. </li>
</ul>


SOE Beijing Capital Group has launched an Offer by way of a Scheme for Beijing Capital Grand (1329 HK) (BCG) a commercial property developer in China.
HK$0.85/Share (best &amp; final) is the Cancellation Price, or a 46.55% premium to undisturbed. Irrevocables secured from 8.13% of the 37.92% held by disinterested shareholders on a fully diluted basis. 
This looks done. All reg approvals appear to be locked in. The conditional long-stop is the 28 July 2025. That's a conservative timeline. 


Beijing Capital Grand (1329 HK): Beijing Capital's HK$0.85/Share Offer

Global Head of Research & Head of Europe, Lucror Analytics

Felix Fischer

Global Head of Research & Head of Europe

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

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Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
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<li><a href="https://www.smartkarma.com/entities/adani-transmission-ltd" target="_blank" rel="noopener">Adani Transmission</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-green-energy-ltd" target="_blank" rel="noopener">Adani Green Energy</a></li>
<li><a href="https://www.smartkarma.com/entities/cifi-holdings-group-co-ltd" target="_blank" rel="noopener">CIFI Holdings</a></li>
<li><a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" rel="noopener">Rakuten</a></li>
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and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:

SK Hynix
Adani Transmission
Adani Green Energy
CIFI Holdings
Rakuten

and more...

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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.

<ul>
<li>
<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> entered a trading halt based on the Hong Kong Code on Takeovers and Mergers. </li>
<li>It is likely that <a href="https://www.smartkarma.com/entities/beijing-capital-land-ltd-h" target="_blank" data-smartkarma-citation="entities:4543:1" rel="noopener">Beijing Capital Land Ltd H (2868 HK)</a>, the largest shareholder, is launching an offer primarily to acquire the stake from <a href="https://www.smartkarma.com/entities/sino-ocean-group-holding-limited" target="_blank" data-smartkarma-citation="entities:8898:1" rel="noopener">Sino-Ocean Group (3377 HK)</a> receivers. </li>
<li>As this is a forced sale, an offer of around HK$0.70-0.75, a 20%- 30% premium to the last close, would be sufficient to gain an irrevocable from the receivers. </li>
</ul>



Beijing Capital Grand (1329 HK) entered a trading halt based on the Hong Kong Code on Takeovers and Mergers. 
It is likely that Beijing Capital Land Ltd H (2868 HK), the largest shareholder, is launching an offer primarily to acquire the stake from Sino-Ocean Group (3377 HK) receivers. 
As this is a forced sale, an offer of around HK$0.70-0.75, a 20%- 30% premium to the last close, would be sufficient to gain an irrevocable from the receivers. 


Beijing Capital Grand (1329 HK): An Offer from Beijing Capital Land?

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China

Sino-Ocean Group is an investment holding company primarily engaged in property investment and development, including residential, commercial, and logistics projects. The company also offers property management, senior living, and environmental technology services. It was founded in 1993 and is headquartered in Beijing, China.

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Sino-Ocean Group (3377 HK)

Weekly Wrap - 25 Oct 2024

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Beijing Capital Grand (1329 HK): An Offer from Beijing Capital Land?

It is likely that Beijing Capital Land, the largest shareholder, is launching an offer primarily to acquire the stake from Sino-Ocean Group receivers.

Arun George

Weekly Wrap - 11 Oct 2024

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Lucror Analytics

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Beijing Capital Grand (1329 HK): Beijing Capital's HK$0.85/Share Offer

This is a clean deal. Applying the long stop date, this is trading at a 14.9%/20% gross/annualised spread. If applying recent Hong Kong Scheme...

David Blennerhassett

Weekly Wrap - 25 Oct 2024

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Weekly Wrap - 18 Oct 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

Beijing Capital Grand (1329 HK): An Offer from Beijing Capital Land?

It is likely that Beijing Capital Land, the largest shareholder, is launching an offer primarily to acquire the stake from Sino-Ocean Group receivers.

Arun George

Weekly Wrap - 11 Oct 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics