Back on the 23rd October 2025, SOE-Backed, Chinese property play Minmetals Land (230 HK), announced an Offer, by way of a Scheme, from parent China Minmetals.
China Minmetals’ Offer Price of HK$1/share, declared final, was a impressive 185.71% premium to last close. And also a 179% premium over the 30th June 2025 NAV.
The Scheme Doc is now out, with a Court Meeting on the 9th Feb 2026, and expected payment on the 10th March. The IFA (Altus Capital) says “fair & reasonable“.
Minmetals is illiquid - look away now if this is not your bag.
The Trade:
Super clean deal.
If small-cap illiquid arbs are your bent - and not in - get involved.
I’d pay up to HK$0.97/share.