ANE (9956 HK): Pre-Cons Satisfied. Possible Payment Early March
Back on the 28th October, ANE Cayman (9956 HK), a road freight transportation play, announced an Offer from Centurium Partners, a pre-IPO investor, Temasek, and Singapore-based asset manager True Light.
The consortium offered HK$12.18/share (best & final) via a Scheme, a 48.54% premium to undisturbed. A scrip alternative (mix & match) was also afforded. Plus a special dividend bolted on.
Pre-Cons included SAMR signing off. With JPM as the FA, I previously concluded, given JPM’s recent track record, the reg process should be straightforward. Those pre-cons have now been satisfied.
The Trade:
Clean deal.
Assuming early March 2026 completion, I’d pay up to ~HK$11.75/share for a ~15% annualised return.
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