Arun George

IPOs and Catalysts/Events

Event-Driven

<ul>
<li>The potential MGO price is HK$1.2430 per H Share vs <a href="https://www.smartkarma.com/entities/shanghai-dongzheng-automotive-finance-co-ltd" target="_blank" data-smartkarma-citation="entities:27984:1" rel="noopener">Dongzheng Automotive Finance (2718 HK)</a>’s previously noted HK$1.294 per H Share due to the change in RMB/HK$ rates.</li>
<li>The completion procedures for the auction will take place within six months. Approvals have low risk as the <a href="https://www.smartkarma.com/entities/saic-motor-corp-ltd-a" target="_blank" data-smartkarma-citation="entities:20833:1" rel="noopener">SAIC Motor (600104 CH)</a>’s controlling shareholder is owned by the Shanghai SASAC.</li>
<li>At the last close and for a 1 November completion, the gross and annualised spread to the MGO price is 5.3% and 12.7%, respectively.</li>
</ul>

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Dongzheng Automotive Finance

Dongzheng’s Potential MGO Price from SAIC at HK$1.2430