IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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/singapore-medical-group-ltd" target="_blank" data-smartkarma-citation="entities:7441:1" rel="noopener">Singapore Medical (SMG SP)</a>'s voluntary conditional offer from management (chairman, CEO, exec director) has received acceptances of 77.37% of outstanding shares, below the 90% minimum acceptance condition.</li>
<li>The closing date has been extended to 15 November. To hit the 90% minimum acceptance condition, the offeror requires a 55.8% acceptance rate from the remaining holdout minorities.</li>
<li>The IFA previously declared the offer “<em>not fair but reasonable.</em>” The gross spread of 1.4% is not an attractive risk/reward profile. We continue to recommend taking profits.</li>
</ul>



Singapore Medical (SMG SP)'s voluntary conditional offer from management (chairman, CEO, exec director) has received acceptances of 77.37% of outstanding shares, below the 90% minimum acceptance condition.
The closing date has been extended to 15 November. To hit the 90% minimum acceptance condition, the offeror requires a 55.8% acceptance rate from the remaining holdout minorities.
The IFA previously declared the offer “not fair but reasonable.” The gross spread of 1.4% is not an attractive risk/reward profile. We continue to recommend taking profits.


Singapore Medical’s VGO: Acceptances at 77.37%, Closing Date Now 15 Nov

<ul>
<li>The IFA has declared the <a href="https://www.smartkarma.com/entities/singapore-medical-group-ltd" target="_blank" data-smartkarma-citation="entities:7441:1" rel="noopener">Singapore Medical (SMG SP)</a> VGO (S$0.37 cash or one new share in the offeror) from management (chairman, CEO, exec director) is “<em>not fair but reasonable.</em>” </li>
<li>The offer is light, and hitting the 90% minimum acceptance condition will be challenging. There is a remote chance of a bump as the offer has not been declared final.</li>
<li>Irrevocables remain at 51.67% of outstanding shares. The current gross spread of 1.4% is not an attractive risk/reward profile. Take profits and head for the exit.</li>
</ul>


The IFA has declared the Singapore Medical (SMG SP) VGO (S$0.37 cash or one new share in the offeror) from management (chairman, CEO, exec director) is “not fair but reasonable.” 
The offer is light, and hitting the 90% minimum acceptance condition will be challenging. There is a remote chance of a bump as the offer has not been declared final.
Irrevocables remain at 51.67% of outstanding shares. The current gross spread of 1.4% is not an attractive risk/reward profile. Take profits and head for the exit.


Singapore Medical’s VGO: IFA Says It Is Not Fair but Reasonable

<ul>
<li>
<a href="https://www.smartkarma.com/entities/singapore-medical-group-ltd" target="_blank" data-smartkarma-citation="entities:7441:1" rel="noopener">Singapore Medical (SMG SP)</a>'s voluntary conditional offer from management (chairman, CEO, exec director) at S$0.37 cash per share or one new share in the offeror will close on 1 November.</li>
<li>The 90% minimum acceptance condition will not be lowered. Irrevocables remain at 51.67% of outstanding shares. The offeree circular will be despatched by 18 October.</li>
<li>The offer is underwhelming and will struggle to hit the 90% minimum acceptance condition. With shares trading in line with the offer, take profits and head for the exit.</li>
</ul>



Singapore Medical (SMG SP)'s voluntary conditional offer from management (chairman, CEO, exec director) at S$0.37 cash per share or one new share in the offeror will close on 1 November.
The 90% minimum acceptance condition will not be lowered. Irrevocables remain at 51.67% of outstanding shares. The offeree circular will be despatched by 18 October.
The offer is underwhelming and will struggle to hit the 90% minimum acceptance condition. With shares trading in line with the offer, take profits and head for the exit.


Singapore Medical’s VGO Acceptance Condition Fixed at 90%

Singapore

Alliance HealthCare Services, Inc. provides outsourced diagnostic imaging services. The Company provides imaging and therapeutic services primarily to hospitals and other healthcare providers on a mobile, shared-service basis. Alliance also provides systems that are located full-time at particular hospitals and clinics. The Company also offers radiation therapy services.


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Alliance Healthcare Group Ltd (AHG SP)

Singapore Medical’s VGO: Acceptances at 77.37%, Closing Date Now 15 Nov

To hit the 90% minimum acceptance condition, the offeror requires a 55.8% acceptance rate from the remaining holdout minorities. The 1.4% spread is...

Arun George

Singapore Medical’s VGO: IFA Says It Is Not Fair but Reasonable

Hitting the 90% minimum acceptance condition will be challenging. The current gross spread of 1.4% is not an attractive risk/reward profile. Take...

Arun George

Singapore Medical’s VGO Acceptance Condition Fixed at 90%

The offer is underwhelming and will struggle to hit the 90% minimum acceptance condition. With shares trading in line with the offer, take profits...

Arun George

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