PRC-Focused financial leasing play Haitong Unitrust International Financial Leasing (1905 HK) (HUIFL) is suspended pursuant to Hong Kong Code on Takeovers and Mergers.
Expect a privatisation Offer from Guotai Haitong Securities (2611 HK), currently holding an 85% stake. Guotai Haitong is presently in the midst of taking Guotai Junan International (1788 HK) private.
As HUIFL is PRC-incorporated, this Offer may be structured as a Merger by Absorption, involving a Scheme-like vote for independent H-shareholders. There may, or may not be, a tendering condition.
Haitong Unitrust (1905 HK) Halted: Guotai Haitong Takeover Expected
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