Shandong Hi-Speed New Energy (1250 HK): Possible MGO At HK$1.78/Share
Not a delisting Offer, but a possible mandatory unconditional Offer from Shandong Hi-Speed Holdings (412 HK) (SDHG) at HK$1.78/share, a premium of 7.23% to last close.
SDHG, with 43.45%, has entered into an SPA with two Citic Securities (H) (6030 HK)-backed funds holding 13.52%, the completion of which lifts SDHG's take to 56.97%, triggering an MGO.
Conditions to the SPA are straightforward. Expect Shandong Hi-Speed New Energy G (1250 HK) to trade tight, if not through terms.
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