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

Bestway Global (3358 HK): Scheme Doc Out. Court Meeting On Sept 15th

Quiddity Advisors

Event-Driven

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<p>Outdoor leisure products manufacturer <a href="https://www.smartkarma.com/entities/bestway-global-holding-inc" target="_blank" data-smartkarma-citation="entities:26012:1" rel="noopener">Bestway Global Holding (3358 HK)</a> has received a privatization <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0625/2021062502329.pdf" target="_blank" rel="noopener">Offer</a> by way of a Scheme from founder/chairman/CEO Zhu Qiang.</p>
<p>Zhu, who directly controls 54.3% in Bestway via Great Success Enterprises Holdings Limited (the Offeror), is offering HK$4.38/share (in cash), a 27% premium to last close. The Offer Price will not be increased. Any dividend declared and paid from hereon will be netted from the Offer price.</p>
<p>Zhu plus concert parties control 77.81% of shares out, implying disinterested shareholders hold 22.19%. Therefore the blocking stake at the forthcoming Scheme Meeting is 2.219% or 23.49mn shares.</p>
<p>The headcount test applies as Bestway is Cayman incorporated.</p>
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<p>This looks done.</p>
<p>More below the fold.</p>
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Outdoor leisure products manufacturer Bestway Global Holding (3358 HK) has received a privatization Offer by way of a Scheme from founder/chairman/CEO Zhu Qiang.
Zhu, who directly controls 54.3% in Bestway via Great Success Enterprises Holdings Limited (the Offeror), is offering HK$4.38/share (in cash), a 27% premium to last close. The Offer Price will not be increased. Any dividend declared and paid from hereon will be netted from the Offer price.
Zhu plus concert parties control 77.81% of shares out, implying disinterested shareholders hold 22.19%. Therefore the blocking stake at the forthcoming Scheme Meeting is 2.219% or 23.49mn shares.
The headcount test applies as Bestway is Cayman incorporated.

This looks done.
More below the fold.



Bestway Global (3358 HK): Scheme Proposal From Founder