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

Merger Arb Mondays (15 Sep) - Santos, Soft99, Technopro, Mandom, Shengjing Bank, Dongfeng Motor

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

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

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

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Event-Driven

<ul>
<li>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 per H Share, a 40.4% premium to the undisturbed price.</li>
<li>The revised offer has been declared final. The revised terms signal that at least one of the substantial H shareholders would not accept the previous offer.</li>
<li>While the revised terms should ensure the support of key shareholders, the terms remain light. Therefore, there remains a risk around the 90% minimum acceptance condition. </li>
</ul>


Shenyang SASAC increased its Shengjing Bank Co Ltd H (2066 HK) offer by 21.2% from HK$1.32 to HK$1.60 per H Share, a 40.4% premium to the undisturbed price.
The revised offer has been declared final. The revised terms signal that at least one of the substantial H shareholders would not accept the previous offer.
While the revised terms should ensure the support of key shareholders, the terms remain light. Therefore, there remains a risk around the 90% minimum acceptance condition. 


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