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Ingenia Communities' Board Rejects Warburg Pincus' New Nonbinding Bid

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Ingenia Communities Group (ASX:INA) again rejected a takeover approach from Warburg Pincus, adding that the private equity firm's revised offer still "substantially undervalues" the company.

The Australian property group said in a Monday bourse filing that the new nonbinding indicative proposal, which raised the per-security offer to AU$5.05 from the AU$4.75 per security it rejected Sept. 7, is not in the best interest of its securityholders.

The Ingenia board added that it reviewed the sweetened bid with its independent adviser and that it remains open to other proposals.

What else is happening in Asia?

Asia

Newlink Technology's Potential Acquisition of HK Ant Global Investment Falls Through

Newlink Technology (HKG:9600) terminated a memorandum of intent for the potential acquisition of HK Ant Global Investment.The parties had entered the memorandum in May, a Friday bourse filing showed.

HKG:9600
Asia

New Concepts Raises HK$4.9 Million from Share Issue

New Concepts Holdings (HKG:2221) completed the issue of 5 million new shares to Du Lei to raise net proceeds of nearly HK$4.9 million.The parties had entered into the share subscription agreement earlier in September, a Friday bourse filing showed.The construction company plans to use proceeds for general working capital.

HKG:2221
Asia

Eternity Investment Unit, Director Dispose Of Stake in China Healthwise

Eternity Investment (HKG:0764) unit Eternity Finance and executive director Lei Hong Wai agreed to sell around 169 million and 18.7 million respective shares in China Healthwise (HKG:0348).The shares, representing an 18.3% and 2% stake in China Healthwise, respectively, were sold to Hwa Sheng International Investment at HK$0.08 apiece, a Friday bourse filing showed.The company will receive a consideration of around HK$13.5 million from the disposal and cease to hold any stake in China Healthwise following completion.Proceeds will be used to repay a margin loan, as well as for general working capital.

HKG:0348HKG:0764