Henlius (2696)'s Fail Sets (Another) Bad Precedent
The question was asked in Henlius (2696 HK): So, When Was The Last Time A PE/VC Outfit Blocked A Deal? Well, now we have one as LVC inexplicably blocked.
It didn’t appear to make economic rationale for LVC to crash the party - knowing they would do so, and not bother to reduce their position accordingly.
In tandem with the TCM (570 HK) debacle, it sets another bad precedent for future/existing Hong Kong events. Expect spreads for HK arbs to widen. And Henlius to crater.
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