Hong Kong/China M&A/Events

Hong Kong/China M&A/Events

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First Pacific (142 HK): Maynilad's IPO Price Firmed
First Pacific Co (142 HK)‘s 49.9%-held MPIC is spinning off Maynilad, a distributor of potable water and provider of sewage services, on the Philippine…
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Quiddity Research
The Li Family's Latest U.S. Setback As The FCC Targets HKT
First it was the Li family’s, via CK Hutchison Holdings (1 HK), investment in two Panama ports, which raised the ire of the U.S.
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Quiddity Research
Hang Seng (11 HK)'s Offer: HSBC Investors Are Not Sold On The Strategic Benefits
Since announcing HSBC (5 HK)‘s Offer, Hang Seng Bank (11 HK) has traded tight-ish to terms, at a ~3.9% gross spread (including dividends).
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Quiddity Research
Kangji Medical (9997 HK): 10th Nov Shareholder Vote on Founders/TPG/QIA's Offer
On the 12th August, Hangzhou Kangji Medical (9997 HK) announced an Offer, by way of a Scheme, from a consortium led by TPG and Qatar Investment…
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Quiddity Research
HSBC (5 HK)'s Fair Offer for Hang Seng (11 HK)'s Minorities
Hang Seng Bank (11 HK) has announced an Offer from controlling parent (63.3551%), HSBC Holdings (5 HK), by way of a Scheme, in a HK$106bn (US$13.6bn…
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Quiddity Research
Sihuan Pharma (460 HK): On Xuanzhu Biopharm's Imminent Spin-Off
On the 12th November 2024, Sihuan Pharmaceutical (460 HK) proposed spinning-off the shares of Xuanzhu Biopharm on the main board of Hong Kong.
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Quiddity Research
Dongfeng (489 HK): On VOYAH’s Updated Financials
On the 22nd August 2025, SOE-backed Dongfeng Motor (489 HK) announced a privatisation; together with a concurrent listing of its EV arm, VOYAH.
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Quiddity Research
Jardine Matheson (JML SP): Additional Office Recycling Speculated
The prior MO for the Jardines group was never sell your commercial buildings.
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Quiddity Research

September 2025

StubWorld: Melco (200 HK) Looking Toppish. Again.
Melco International Development (200 HK) is now trading at a premium to NAV for the first time since announcing a one-for-two rights issue.
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Quiddity Research
Miniso (9896 HK)'s TOP TOY Angling For Labubu Mojo
In MINISO (9896 HK)’s (Possible) TOP TOY Spin-Off Is Priced In, based on (then) available figures and applying a holding company discount, post…
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Quiddity Research
Jinke Smart (9666 HK): Boyu's Unconditional Offer Now Open To Tendering
On the 28th April 2025, PRC-incorporated property management play Jinke Smart Services (9666 HK) announced a possible unconditional MGO take-under at…
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Quiddity Research
Kangji Medical (9997 HK): A Closer Look At The Shareholder Register
With the pre-cons squared away as per the 3rd September announcement, the key risk to Hangzhou Kangji Medical Instrument (9997 HK)‘s Offer is the Scheme…
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Quiddity Research
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