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

Huifu Payment (1806 HK): Early Withdrawal?

Huifu Payment IPO Review - Regulation May Take Away a Major Source of Income

Quiddity Advisors

Event-Driven

<div>
<p>On the 22 December, third-party service provider <a href="https://www.smartkarma.com/entities/huifu-payment-ltd" target="_blank" data-smartkarma-citation="entities:27145:1" rel="noopener">Huifu Payment Limited (1806 HK)</a>  <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2020/1223/2020122300031.pdf" target="_blank" rel="noopener">announced</a> an Offer, by way of a Scheme, whereby shares will be cancelled in exchange for either:</p>
</div>
<div>
<ol style="list-style-type: lower-alpha;">
<li>$3.50/share cash, a 26.8% premium to last close; or</li>
<li>2.709677 new shares in the Offeror.</li>
</ol>
<p style="padding-left: 25px;">The Offeror is an unlisted vehicle owned as to 70.7030%, 24.6620%, and 4.6350% by Zhou Ye, Mu Haijie, and Jin Yuan, who are directors of Huifu. </p>
</div>
<div>
<p>Neither the cash nor the scrip consideration would be increased.</p>
</div>
<div>
<p>The Scheme Document was <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0126/2021012601249.pdf" target="_blank" rel="noopener">despatche</a>d last night. The Court Meeting is scheduled for the 19 February, with payment - assuming shareholders approve the Scheme - on or before the 8 April 2021.</p>
<p>The IFA (Somerley) considers the Offer to be fair and reasonable. </p>
</div>
<div>
<p>This looks done. As always, more below the fold.</p>
</div>


On the 22 December, third-party service provider Huifu Payment Limited (1806 HK)  announced an Offer, by way of a Scheme, whereby shares will be cancelled in exchange for either:



$3.50/share cash, a 26.8% premium to last close; or
2.709677 new shares in the Offeror.

The Offeror is an unlisted vehicle owned as to 70.7030%, 24.6620%, and 4.6350% by Zhou Ye, Mu Haijie, and Jin Yuan, who are directors of Huifu. 


Neither the cash nor the scrip consideration would be increased.


The Scheme Document was despatched last night. The Court Meeting is scheduled for the 19 February, with payment - assuming shareholders approve the Scheme - on or before the 8 April 2021.
The IFA (Somerley) considers the Offer to be fair and reasonable. 


This looks done. As always, more below the fold.


Huifu Payment (1806 HK): Scheme Doc Out. IFA Says Fair