In today’s briefing:
- Jinke Smart Services (9666 HK): Boyu’s Unconditional Offer Set to Open
- Global Monetary Tides Turn: Fed Cuts, Europe Holds, Japan’s Stance and Market Impacts Explored
Jinke Smart Services (9666 HK): Boyu’s Unconditional Offer Set to Open
- On 19 September, Boyu completed the auction share transfer to take its Jinke Smart Services (9666 HK) shareholding to 55.91% of outstanding shares.
- Pursuant to Rule 26.1 of the Takeovers Code, Boyu is required to make a mandatory unconditional general offer at HK$6.67. The offer should open by 26 September.
- The offer price is unattractive, suggesting a low chance of breaching the public float requirements (23.4% of outstanding shares). At the last close, the gross/annualised spread is 0.9%/10.0%.
Global Monetary Tides Turn: Fed Cuts, Europe Holds, Japan’s Stance and Market Impacts Explored
- Global central banks are navigating divergent monetary policies, with the Fed initiating rate cuts while European and Japanese counterparts maintain cautious stances amid varying inflation and growth outlooks.
- Significant economic headwinds, including the impact of tariffs and political instability in key regions, are influencing central bank decisions and contributing to a nuanced global economic landscape.
- This environment of diverging policies and persistent economic pressures sets the stage for a strategic market opportunity, focusing on volatility dynamics in developed markets.
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