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 Authority, together with the founders.
The HK$9.25/share consideration price (declared final), was an lacklustre 9.9% premium to last close. But pitched around a four-year high.
The Scheme Document is now out, with a Court Meeting on the 10th November and expected payment around the 16th December - in line with my expectations.
The Trade:
I expect this Offer gets up.
I’d pay up to ~HK$9.00/share for a ~15% annualised return.
If you have the risk bandwidth for HK arbs, get involved.
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