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

Sino Ocean (3377 HK): (Still) Trading Cheap Ahead Of Property Management Co Spin-Off

Sino-Ocean Services (远洋服务) IPO Trading - Tepid Demand Compared to Recent IPOs

Quiddity Advisors

Event-Driven

<div>
<p><a href="https://www.smartkarma.com/entities/sino-ocean-service" target="_blank" data-smartkarma-citation="entities:31037:1" rel="noopener">Sino-Ocean Service (6677 HK)</a> ("SOS") joins the ever-expanding ranks of property management service companies seeking a listing. The Offer Price is expected to be announced on the 16 December, with the commencement of trading in the shares on the 17 December.</p>
</div>
<div>
<p>SOS is the spin-off of <a href="https://www.smartkarma.com/entities/sino-ocean-land-holdings" target="_blank" data-smartkarma-citation="entities:8898:1" rel="noopener">Sino Ocean Land (3377 HK)</a>, which will own 67.57% in <strong>SOS</strong> after the IPO, down from 90.1% currently, before over-allotment.</p>
</div>
<div>
<p>SOS intends to raise HK$1.8bn (US$0.23bn) if using HK$6.10/share, the mid-point of the indicative Offer Price range.</p>
</div>
<div>
<p>On an FY20E PER metric, SOS is pitched in line with its peer basket. </p>
</div>
<div>
<p>More below the fold. </p>
</div>


Sino-Ocean Service (6677 HK) ("SOS") joins the ever-expanding ranks of property management service companies seeking a listing. The Offer Price is expected to be announced on the 16 December, with the commencement of trading in the shares on the 17 December.


SOS is the spin-off of Sino Ocean Land (3377 HK), which will own 67.57% in SOS after the IPO, down from 90.1% currently, before over-allotment.


SOS intends to raise HK$1.8bn (US$0.23bn) if using HK$6.10/share, the mid-point of the indicative Offer Price range.


On an FY20E PER metric, SOS is pitched in line with its peer basket. 


More below the fold. 


Sino Ocean Services (6677 HK): Bang In Line