Hainan Meilan Airport Offerors Clarify Share Pledge Terms in Mandatory Cash Takeover Bid

Hainan Meilan International Airport Company ( (HK:0357) ) just unveiled an announcement.

Hainan Airport Infrastructure Co., Ltd. and its Hong Kong affiliate clarified financing arrangements for their ongoing unconditional mandatory cash offers to acquire all domestic shares and H shares of Hainan Meilan International Airport Company Limited that they do not already own. The announcement states that if loan facilities from China Merchants Bank’s Haikou branch and CMB Wing Lung Bank are drawn, at least 50% of the acquired domestic shares and 50% of the acquired H shares, respectively, will be pledged as security, while the lending banks otherwise only hold the company’s securities as custodians for non-discretionary clients and have no voting discretion. No other agreements exist to transfer, charge or pledge the offer shares to third parties, and the clarification leaves all other terms of the composite offer document unchanged, with shareholders and potential investors urged to exercise caution when dealing in the company’s securities.

The most recent analyst rating on (HK:0357) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on Hainan Meilan International Airport Company stock, see the HK:0357 Stock Forecast page.

More about Hainan Meilan International Airport Company

Hainan Meilan International Airport Company Limited is a joint stock company incorporated in the People’s Republic of China with limited liability, operating in the airport infrastructure and aviation services sector. Listed in Hong Kong, it manages and develops airport facilities and related services in Hainan, serving as a key transportation hub for the island’s tourism and trade-focused economy.

Average Trading Volume: 2,056,482

Technical Sentiment Signal: Buy

Current Market Cap: HK$5.02B

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