Core Viewpoint - The leading minimally invasive medical device company, Kangji Medical Holdings Limited, is planning to go private through an agreement with Knight Bidco Limited, which will result in the company's delisting from the Hong Kong Stock Exchange [2][4]. Group 1: Privatization Details - The consortium involved in the offer includes notable entities such as the founders, TPG, NewQuest V Fund, and Al-Rayyan Holding, which is fully owned by Qatar Investment Authority [4][9]. - The proposed cancellation price for the shares is set at HKD 9.25 per share, valuing the company at approximately USD 1.4 billion (around HKD 10.99 billion), representing a premium of about 21.7% over the closing price on June 30, 2025 [4][7]. - As of August 13, 2023, Kangji Medical's stock price was HKD 8.50, reflecting a year-to-date increase of 40.28%, although it remains significantly below the IPO price of HKD 13.88 set in June 2020 [4][7]. Group 2: Market Conditions and Company Strategy - The company has faced persistent pressure on its stock price and long-term liquidity issues, limiting its ability to raise funds from the market [7]. - The need to maintain its listing incurs administrative and compliance costs, which, coupled with increased competition and industry uncertainties, has led the company to consider significant investments for sustainable growth [7]. - The necessity of maintaining a public listing has diminished, prompting the decision to pursue privatization [7]. Group 3: Shareholder Dynamics - The founders, Zhong Ming and Shen Tu Yingguang, currently control 52.98% of Kangji Medical and will retain a 40% stake in the ultimate holding company post-privatization, ensuring they remain the largest shareholders [10]. - The acceptance of the privatization proposal by minority shareholders remains uncertain and will depend on future developments [11].