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 vote.

• The HK$9.25/share consideration price (declared final), was an uninspiring 9.9% premium to last close. But pitched around a four-year high. And peers are down 10% on average since the Offer.

• A persual of the s329 investigative reports provides a significantly clearer picture on who holds what.

The Trade:

• I expect this Offer gets up.

• Assuming payment shortly before Xmas, I’d pay up to ~HK$8.95/share for a 15% annualised return.

• If you have the risk bandwidth, get involved.