Jinke Smart Services shareholders eye privatization, enhanced offer

Broad Gongga Investment, through China International Capital Corporation Hong Kong Securities, has made a revised offer to acquire all shares of Jinke Smart Services Group Co., Ltd., with a proposed delisting from the Stock Exchange. The revised offer introduces an enhanced offer price of HK$8.69 per share, payable only if both the delisting resolution is approved at the EGM and the delisting acceptance condition is satisfied. Otherwise, a base offer price of HK$6.67 per share will be paid.

Shareholders can choose between a conditional acceptance (Option A) to receive the enhanced offer price upon delisting or an unconditional acceptance (Option B) for the base offer price with a potential make-whole payment to reach the enhanced offer price if delisting conditions are met. A rollover option allows reinvestment into Top Yingchun Investment IV, conditional on delisting. The EGM to approve the delisting resolution is scheduled for December 24, 2025.

The enhanced offer price represents a premium ranging from 0.81% to 40.75% over various historical share prices and net asset values, including a 9.86% premium over the HK$7.91 closing price on the latest practicable date. The offeror and its concert parties collectively hold 63.29% of the issued shares as of the latest practicable date.