IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Jinke Smart Services (9666 HK): Boyu’s Enhanced Offer but with Potentially Problematic Conditions

Jinke Smart Services (9666 HK): Delisting Resolution Passed, but Now for the Hard Part

Jinke Smart Services (9666 HK): Delisting EGM on 24 December as Acceptances Remain Unchanged

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>As of the closing date of 7 January, <a href="https://www.smartkarma.com/entities/jinke-smart-services-group-co" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a> has disclosed that Boyu has received acceptances for 218.6 million shares, or 36.61% of outstanding shares.</li>
<li>To satisfy the delisting acceptance condition, Boyu needs additional acceptances representing 3.5 million or 0.58% of outstanding shares. This is a surprising outcome given the previous trend of tepid acceptances.</li>
<li>This requires an 11.6% acceptance rate among remaining disinterested shareholders, which should be met. At the last close, the gross spread of the enhanced offer was 3.6%. </li>
</ul>


As of the closing date of 7 January, Jinke Smart Services (9666 HK) has disclosed that Boyu has received acceptances for 218.6 million shares, or 36.61% of outstanding shares.
To satisfy the delisting acceptance condition, Boyu needs additional acceptances representing 3.5 million or 0.58% of outstanding shares. This is a surprising outcome given the previous trend of tepid acceptances.
This requires an 11.6% acceptance rate among remaining disinterested shareholders, which should be met. At the last close, the gross spread of the enhanced offer was 3.6%. 


Jinke Smart Services (9666 HK): Against All Odds, Satisfying the Delisting Condition Is at Hand