HK$17.50/share is a full and fair price. The tendering condition is the key risk to the deal. At HK$16.72/share, this is trading at a 4.7%/47.3% gross/annualised. I'd get involved.
SUMMARY
(Sign Up to Access)
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.