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

Weekly Deals Digest (17 Aug) - Kangji Medical, HKBN, Shengjing, Carenet, Shibaura, Rezil, Yomeishu

Merger Arb Mondays (18 Aug) - Santos, Shibaura, ENN Energy, Kangji, OneConnect, Smart Share

Kangji Medical (9997 HK): Precondition Satisfied for the Light Scheme Offer

Kangji Medical IPO Initiation: The Cutting Edge

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

Hangzhou Kangji Medical Instrument Co., Ltd. / Event-Driven

Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK)

Hangzhou Kangji Medical Instrument Co., Ltd.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hangzhou-kangji-medical-instrument-co-ltd" target="_blank" data-smartkarma-citation="entities:28938:1" rel="noopener">Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK)</a> disclosed a preconditional privatisation from a consortium at HK$9.25, a 9.9% premium to last close and a 21.7% premium to the undisturbed price. </li>
<li>The precondition relates to SAMR approval. The key condition will be approval by at least 75% disinterested shareholders (&lt;10% of all disinterested shareholders' rejection). The offer is final. </li>
<li>The scheme vote risk is medium-to-high due to an unattractive offer, a blocking stake below the substantial disclosure threshold, unfavourable AGM voting patterns, and emerging retail opposition.</li>
</ul>



Hangzhou Kangji Medical Instrument Co., Ltd. (9997 HK) disclosed a preconditional privatisation from a consortium at HK$9.25, a 9.9% premium to last close and a 21.7% premium to the undisturbed price. 
The precondition relates to SAMR approval. The key condition will be approval by at least 75% disinterested shareholders (&lt;10% of all disinterested shareholders' rejection). The offer is final. 
The scheme vote risk is medium-to-high due to an unattractive offer, a blocking stake below the substantial disclosure threshold, unfavourable AGM voting patterns, and emerging retail opposition.


Shandong Weigao Group Medical Polymer Co (1066 HK)

Beijing Chunlizhengda Medical Instruments (1858 HK)

Beijing Chunlizhengda Medical Instruments

Shanghai INT Medical Instruments (1501 HK)

Kangji Medical (9997 HK): Consortium’s Light Preconditional Scheme Offer