IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ptb-group-ltd" target="_blank" data-smartkarma-citation="entities:19198:1" rel="noopener">PTB Group Ltd (PTB AU)</a>'s scheme meeting is on 16 November. The IE considers the offer of A$1.595 + dividend up to A$0.03 per share (total of A$1.625) fair.  </li>
<li>The key condition is approval from shareholders - headcount test and approval by at least 75% of the votes cast on the resolution. The two largest shareholders will vote YES.</li>
<li>We continue to think that offer is attractive. At the last close price and for the 9 December payment, the gross and annualised spread is 2.2% and 13.8%, respectively.</li>
</ul>



PTB Group Ltd (PTB AU)'s scheme meeting is on 16 November. The IE considers the offer of A$1.595 + dividend up to A$0.03 per share (total of A$1.625) fair.  
The key condition is approval from shareholders - headcount test and approval by at least 75% of the votes cast on the resolution. The two largest shareholders will vote YES.
We continue to think that offer is attractive. At the last close price and for the 9 December payment, the gross and annualised spread is 2.2% and 13.8%, respectively.


United States

AAR CORP. supplies aftermarket products and services to the global aviation/ aerospace industry.  The Company purchases, sells, and leases new and used commercial jet aircraft, as well as purchases, sells, and leases a variety of new, overhauled, and repaired engines and engine products for the aviation aftermarket.  AAR overhauls, repairs, and exchanges a variety of engine parts.

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Aar Corp (AIR US)

PTB Scheme Meeting on 16 November

This is a done deal but not a particularly liquid merger arb situation. At the last close price and for the 9 December payment, the annualised...

Arun George

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