Privatisation plans to boost eastern newspapers by more than 14%

Securities Times Lu Jinming two pairs of percentages hidden mystery The Oriental newspaper (00018.HK) announced that the big shareholder, the Ma family plan to be privatized for HK $0.95 per share, if the deal is completed, will end the company's 22 listing history.　　News of the company's shares surged 14.63% after yesterday's recovery. 61.45%vs62% learned that the horse family is now holding 61.45% of the Oriental newspaper shares. Industry insiders said, in accordance with the relevant provisions, if the acceptance of cash acquisition of the shares accounted for more than 62% and less than 90% per cent, the acquirer may, at its discretion, choose to reduce the acquisition condition from 90% to a lower percentage; if the share of a cash takeover is 90%, the acquirer will be able to force the purchase of the　　The funding will be as much as HK $878 million. In the past 6 months, the Oriental newspaper said the average daily turnover of the company's shares is only 2.5 million shares and the liquidity is low, so the "privatization scheme provides a high level of opportunity for small shareholders", and after privatization, the company will continue to operate the existing business of the group and has no intention to change the existing operation and management, nor to make any significant changes to　　One of the company's directors considered that maintaining the current listing status was not actually cost-effective, given the cost and management resources involved in maintaining the company's listing status. The 14.63%vs15.9%, a large shareholder in the Oriental Press, proposed a privatisation price of HK $0.95, a premium of HK $15.9% over the closing price of its suspension, which was below the 52-week high of HK $1.3 and less than HK $0.82 per share.　　Yesterday, the Oriental press after the card, has been a 0.96 Hong Kong dollar, closed the price of 0.94 Hong Kong dollar, up to 14.63%, the distance from the privatization offer is only 0.01 Hong Kong dollar difference. The Oriental newspaper's intraday highs were actually higher than the privatisation bid of HK $0.01 yesterday, an analyst said, suggesting some investors think the bid could be elevated. Therefore, the eastern press to persuade minority shareholders to accept the 0.95 per share of the Hong Kong dollar privatization proposal will face difficulties, because there has been a significant premium before the precedent ——— PCCW (00008.HK) before the increase in prices before the price of the full purchase of a premium of 44.8%, crocodile (0122.HK) Premium 92.3 %。 "However, it is difficult to speculate whether the East newspaper will follow the two companies." The unit has not been able to break the psychological position of HK $1 since September, which will continue to be a resistance position.