Why Is Jinke Smart (9666 HK) Still Suspended?
Back on the 28th April 2025, PRC-incorporated property management play Jinke Smart Services (9666 HK) announced a possible unconditional MGO take-under at HK$6.67/share.
The Boyu-backed Offeror and Concert Parties, (then) holding 37.86%, bought a 18.05% stake in Jinke at auction, subject to CSDC oversight. CSGC approval was received on the 19th September.
The Offer period has been twice extended. Prior to the second extension, shares were suspended. To date, no plausible reason has been given. So I tapped the FA for answers.
Jinke Smart Services (9666 HK) is suspended. Look away if this is not your bag.
The Trade:
Right now, there is no trade as shares are suspended.
You can still tender.
There’s a back-end play here; but I don’t have a strong conviction.
I’d expect Boyu to make a delisting proposal down the track.
This insight is labelled bullish as it has to be labelled something. Plus this is an unconditional MGO.
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