Daily Brief Financials: Get Nice Financial Group Ltd, China Life Insurance Company, Paragon REIT, Gold, Ethereum, Globe Life , Urbanet Corp, Clip Money and more

• Back on the 5th November, Get Nice Holdings (64 HK) (GNH) announced a scrip Offer, by way of a Scheme, for 72.99%-held Get Nice Financial Group Ltd (1469 HK) (GNF).
• The (then) HK$1.116/share implied scrip price & divvy compared to a book value of HK1.736/share. and net cash of ~HK$1.00/share. At the 22nd January EGM, GNH shareholders backed the Offer.
• The Scheme Doc is now out, with a Court Meeting on the 7th March,  with new GNH shares trading on the 7th April. The IFA (Veda Capital) botched its peer analysis.

• AH Premia are lower over the last two weeks spanning the CNY holiday. HK stocks up. H/A discounts slightly narrower on average. 
• The past two weeks saw Consumer and Financial AH premia drop. Utilities, energy, and Industrials widened slightly on average. Narrow premia AH dropped more than wide premia.
• AH Premia on average at a new five year low. Some may be foreigners returning to HK. Some may be just drift. Many wide spreads still exist.

• Get Nice Financial Group Ltd (1469 HK)’s IFA opines that Get Nice Holdings (64 HK) (GNH)’s offer (4 GNH shares per GNF share + HK$0.50 dividend) is fair and reasonable. 
• The GNF vote required approval of the scheme by at least 75% of disinterested shareholders (<10% of all disinterested shareholders rejection). The vote is low risk.   
• The spread remains high as GNH is not shortable. At the last close, for a 3 April payment, the gross/annualised spread was 10.2%/89.3%.

• Cuscaden Peak, the sponsor of Paragon REIT (PGNREIT SP) and 61.5% shareholder, has offered S$0.98/unit, in cash; or S$1.003/unit, a 7% premium to NAV, when including FY24’s S$0.0233/unit cash distribution.
• The Offer is by way of a Scheme. The Offer price has NOT been declared final. A switch option into a voluntary Offer is afforded should a competing Offer emerge.
• Looks pretty clean. Assuming mid-late May payment, pay up to S$0.97/share for a 4%/15% gross/annualised spread. It may trade tighter given the early distribution payment.

• Long gold has been a winning strategy over the last two calendar years. Gold futures has clocked a 125% increase since start of 2019 until now.
• Gold has seen its strongest rally yet over the last two years, breaking through previous all-time highs with minimal retracement.
• GLD ETF has delivered a 7.4% price returns over the last month and an 8% upside YTD in 2025 so far.

• Ethereum leads in tokenization, but Solana and Sui are gaining traction with high-speed trading and alternative L1 adoption. Institutional multi-chain strategies may drive further competition.
• Ethereum’s L2s enhance scalability, but fee revenue is diversifying as Alt-L1s grow. Base shows how L2s can leverage Ethereum’s security while competing ecosystems challenge its dominance.
• TradFi is embracing blockchain, with stablecoins and tokenization set to expand. BlackRock’s BUIDL fund on Ethereum highlights its role as the preferred settlement layer for institutional finance.

• Globe Life Inc. faced a share price decline and negative report from Fuzzy Panda in April 2024 due to concerns about bad agents and a kickback scheme
• Despite SEC inquiry and potential cyber-attack, Globe Life showed strong performance in third quarter
• Company facing challenges such as whistleblower lawsuit dismissal and extortion by hackers, but outlook remains positive with stock trading at a discount to long-term levels

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• In 1H FY06/25, sales were JPY8.0bn (-30.3% YoY) and operating profit was JPY101mn (-87.9% YoY), with a recurring loss of JPY232mn.
• Real Estate business sales were JPY7.8bn (-30.7% YoY) and segment profit was JPY865mn (-37.6% YoY) in 1H FY06/25.
• Total assets at end-Q2 FY06/25 were JPY57.2bn, liabilities increased to JPY42.4bn, and net assets were JPY14.8bn.

• Clip Money is a rapidly growing NCR-backed start-up based in Ottawa, Canada, and operating in Canada and the US.
• It is helping physical stores and businesses quickly, safely, and less expensively deposit cash into their bank accounts, as well as replenishing notes and coins for store operations.
• The company uses its proprietary software platform to facilitate cash management, and its network is made up of a network of DropBoxes, NCR ATMs located in retail outlets and a second half roll out at Green Dot locations.