Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Matthew Delventhal

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Take-private transactions have become increasingly popular in Hong Kong in recent years. This paper examines how pricing premiums in Hong Kong privatizations are determined and explore the trend of privatization transactions in Hong Kong by examining the relationship between the take-private premium and eleven variables. Among these variables, valuation multiples, ROE, and corporate credit spread have some association with the premium. Analysis of these relationships points to the conservative nature of the investment appetite of privatization investors in Hong Kong, which has become increasingly obvious in recent years.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.