Core Viewpoint - Minmetals Land (00230HK) has announced a privatization plan, leading to a significant stock price surge of over 90% following its resumption of trading, with a current price of HKD 0.92 per share and a market capitalization of HKD 30.79 billion [1]. Company Summary - The company plans to privatize and delist from the Hong Kong Stock Exchange, with a proposed cancellation price of HKD 1 per share, representing a premium of approximately 104.08% over the closing price before suspension [3][4]. - The total cash consideration for the privatization will be approximately HKD 12.76 billion, funded through internal resources, with the financial advisor confirming the adequacy of financial resources for the payment obligations [3][4]. - Minmetals Land has faced persistent losses in recent years, with net losses of HKD 13.62 billion, HKD 10.16 billion, and HKD 35.21 billion projected for 2022, 2023, and 2024 respectively [5]. - In the first half of this year, the company reported a net loss of HKD 5.85 billion, a reduction from HKD 10.44 billion in the same period last year [5]. Industry Context - The company operates in the Chinese real estate sector, which is currently in a stabilization phase, facing a challenging and complex external environment [4]. - The proposed delisting is expected to enhance the company's operational efficiency and decision-making capabilities by reducing management and compliance complexities [4].
复牌暴涨90%，五矿地产拟以12.76亿港元私有化退市