In today’s briefing:
- Origin Energy (ORG AU): State of Play
- Shenzhen Senior Tech GDR Listing – Early Look – Correction Leaves Its Valuation Palatable
Origin Energy (ORG AU): State of Play
- The Origin Energy (ORG AU) scheme vote is on 23 November. Brookfield/EIG’s best and final offer is A$6.59 and US$1.86 per share, currently worth A$9.45.
- With AusSuper reportedly increasing its stake past 17% on Friday, the scheme vote remains too close to call. Brookfield/EIG will need a large YES vote turnout for a successful vote.
- If the scheme is voted down, there are mainly three Plan Bs – Brookfield/EIG’s alternate transaction structure, Board-initiated strategic review or maintaining the status quo.
Shenzhen Senior Tech GDR Listing – Early Look – Correction Leaves Its Valuation Palatable
- Shenzhen Senior Technology-A (300568 CH) is looking to raise around US$275m in its upcoming Switzerland GDR listing. The bookrunner on the deal is Huatai International.
- As per media reports, the firm was earlier looking to raise between US$300-400m via a Swiss GDR issuance, having secured approval earlier to sell up to 128m A-shares.
- However, given its lackluster share price performance over the past year, the eventual deal size would be capped at around US$275m.
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