On the evening of October 6, Haitong International announced that the offeror, Haitong International Holdings Co., Ltd., will privatize the company through an agreement arrangement in accordance with Article 99 of the Company Law after the prerequisites are met. For the privatization of Haitong International, the cash for each canceled planned share is HK$1.52, which is a premium of approximately 114% to the latest closing price.
I placed a 6000 shares limit order, 1.21HK$, 80% of offered price. I bet the privatization process would be successful.
The current P/B at 0.71HK$ = 0.26, so the offered price is still around 0.5 P/B, reasonable bargain.
$HAITONG INT'L(00665)$
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