Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

Asia Cement (743 HK): $3.22/Share Offer - Really?

Asia Cement (743 HK): Parent's Ready-Mixed Offer?

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 5th June, Chinese cement play <a href="https://www.smartkarma.com/entities/asia-cement-china-holdings" target="_blank" data-smartkarma-citation="entities:3374:1" rel="noopener">Asia Cement China (743 HK)</a> announced a rubbish HK$3.22/share Offer from its parent <a href="https://www.smartkarma.com/entities/asia-cement-corp" target="_blank" data-smartkarma-citation="entities:15350:1" rel="noopener">Asia Cement (1102 TT)</a>.</li>
<li>This best &amp; final cash Offer was a ~ 45% premium to undisturbed, and a 37% discount to FY23's net cash. It's a 39% discount to 1H24's net cash.</li>
<li>The<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0802/2024080201151.pdf" target="_blank" rel="noopener"> Scheme Doc</a> is now out, with a 26th August independent shareholder vote. And payment (if it were to occur) on 20th September. The IFA (unsurprisingly) says fair and reasonable. </li>
</ul>


Back on the 5th June, Chinese cement play Asia Cement China (743 HK) announced a rubbish HK$3.22/share Offer from its parent Asia Cement (1102 TT).
This best &amp; final cash Offer was a ~ 45% premium to undisturbed, and a 37% discount to FY23's net cash. It's a 39% discount to 1H24's net cash.
The Scheme Doc is now out, with a 26th August independent shareholder vote. And payment (if it were to occur) on 20th September. The IFA (unsurprisingly) says fair and reasonable. 


Asia Cement (743 HK): 26th August Vote. Shareholders Should Reject Terms