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

CNBM (3323 HK): A Closer Look At Proration

CNBM (3323 HK): Whitewash Waiver Secured. Next Is The Proration

CNBM (3323 HK)'s Buyback Ups Parent's Stake >50%

Quiddity Advisors

Event-Driven

China National Building Material / Event-Driven

China National Building Material (3323 HK)

<ul>
<li>On the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1206/2024120601604.pdf" target="_blank" rel="noopener">6th December</a>, <a href="https://www.smartkarma.com/entities/china-national-building-ma-h" target="_blank" data-smartkarma-citation="entities:184:1" rel="noopener">China National Building Material (3323 HK)</a> (CNBM), a leading PRC building materials company, offered to buy back 841,749,304 H-shares at HK$4.03/share, a 15.1% premium to undisturbed.</li>
<li>The thrust of the buyback lifts the stake of CNBM's parent - the CNBM Parent Concert Group - to 50.01% of total shares from 45.02% currently, necessitating a whitewash waiver.</li>
<li>Pre-Cons were satisfied on the <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0124/2025012401173.pdf" target="_blank" rel="noopener">24th Jan</a>. The independent H-class shareholders vote for the waiver is on the 19th Feb. Minimum pro-ration is 19.24%. Implied back-end price is well down. </li>
</ul>


On the 6th December, China National Building Material (3323 HK) (CNBM), a leading PRC building materials company, offered to buy back 841,749,304 H-shares at HK$4.03/share, a 15.1% premium to undisturbed.
The thrust of the buyback lifts the stake of CNBM's parent - the CNBM Parent Concert Group - to 50.01% of total shares from 45.02% currently, necessitating a whitewash waiver.
Pre-Cons were satisfied on the 24th Jan. The independent H-class shareholders vote for the waiver is on the 19th Feb. Minimum pro-ration is 19.24%. Implied back-end price is well down. 


Canvest Environmental Protection Group (1381 HK)

Millennium & Copthorne Hotels Nz (MCK NZ)

CNBM (3323 HK): This Is An "Avoid" Ahead Of 19th Feb H-Class Shareholder Vote