Minmetals Land (230 HK): An Offer Premium Of 179% To NAV? Yes Please
After suspending shares on the 30th September, SOE-Backed, Chinese property play Minmetals Land (230 HK), has now announced an Offer, by way of a Scheme buyback, from parent China Minmetals.
The Offer Price of HK$1/share, declared final, is a punchy 185.71% premium to last close. And also a 179% premium over the 30th June 2025 NAV. Optically, looks solid also.
Disinterested shareholders hold 38.12%. They should be happy with terms. This should wrap up (perhaps) late February 2026.
At the bottom of this insight, I’ve provided a rundown of upcoming events for those Asia-Pac companies currently subject to an Offer or similar.
Minmetals is super illiquid - look away now if this is not your bag.
The Trade:
Clean deal.
If small-cap illiquid arbs are your bent get involved here.
I’d pay up to HK$0.95/share, assuming end of February 2026 payment.
This insight is labelled bullish as I expect the Offer to get up.
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