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

Shengjing Bank (2066 HK): A Light Conditional VGO and Delisting Proposal

Shengjing Bank (2066 HK): Revised and Final Offer Remains Light

Shengjing Bank (2066 HK): Privatisation on the Cards?

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>On 12 September, Shenyang SASAC increased its <a href="https://www.smartkarma.com/entities/shengjing-bank-co-ltd-h" target="_blank" data-smartkarma-citation="entities:96:1" rel="noopener">Shengjing Bank Co Ltd H (2066 HK)</a> offer by 21.2% from HK$1.32 to HK$1.60. The IFA opines it is fair and reasonable.</li>
<li>The revised terms should ensure the support of key shareholders. However, the IFA analysis is flawed, and the revised offer is light.</li>
<li>While the 21 October vote on the delisting proposal should pass, the satisfaction of the minimum acceptance condition (90% of independent H shares) poses a challenge. </li>
</ul>


On 12 September, Shenyang SASAC increased its Shengjing Bank Co Ltd H (2066 HK) offer by 21.2% from HK$1.32 to HK$1.60. The IFA opines it is fair and reasonable.
The revised terms should ensure the support of key shareholders. However, the IFA analysis is flawed, and the revised offer is light.
While the 21 October vote on the delisting proposal should pass, the satisfaction of the minimum acceptance condition (90% of independent H shares) poses a challenge. 


Shengjing Bank (2066 HK): Minimum Acceptance Condition in Focus as Offer Opens