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/shandong-fengxiang-co-ltd-h" target="_blank" data-smartkarma-citation="entities:29164:1" rel="noopener">Shandong Fengxiang (9977 HK)</a> has disclosed a preconditional privatisation offer from PAG, the controlling shareholder, at HK$2.00 per H share, a 33.3% premium to the undisturbed price.  </li>
<li>The precondition relates to regulatory approvals. The key conditions for the privatisation will be approval by at least 75% independent H Shareholders (&lt;10% of all independent H Shareholders rejection). </li>
<li>The shareholders with blocking stakes which have not provided irrevocables will likely be supportive as the offer is reasonable and there is a potential scrip alternative. </li>
</ul>



Shandong Fengxiang (9977 HK) has disclosed a preconditional privatisation offer from PAG, the controlling shareholder, at HK$2.00 per H share, a 33.3% premium to the undisturbed price.  
The precondition relates to regulatory approvals. The key conditions for the privatisation will be approval by at least 75% independent H Shareholders (&lt;10% of all independent H Shareholders rejection). 
The shareholders with blocking stakes which have not provided irrevocables will likely be supportive as the offer is reasonable and there is a potential scrip alternative. 


Fengxiang (9977 HK): PAG’s Preconditional Privatisation Offer at HK$2.00

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>Technically, the SET Index is expected to rise, with the resistance at 1,122/1,137 points and the support at 1,080/1,066 points.</li><li>The medium-term outlook remains bearish, as the index continues to follow a zig-zag downtrend pattern while searching for the bottom.</li><li>The trading range has been revised to 960-1,200 points. </li></ul>

Technically, the SET Index is expected to rise, with the resistance at 1,122/1,137 points and the support at 1,080/1,066 points.The medium-term outlook remains bearish, as the index continues to follow a zig-zag downtrend pattern while searching for the bottom.The trading range has been revised to 960-1,200 points. 

KTX Zoom: CH and US Inflation - April 10, 2025

<ul><li>Technically, the SET Index is expected to attempt a technical rebound, with the resistance levels at 1,082/1,090/1,095 points and the support levels at 1,066/1,056 points.</li><li>In the medium term, the index remains in a downtrend, forming a zig-zag pattern in search of the bottom, with the revised trading range now between 960-1,200 points.</li><li>In the short term, the market is still in a downtrend (forming new lows followed by rebounds), but a technical rebound is possible after the index hit a new low for the year at 1,056.41 points yesterday — the lowest level in over five years, compared to the 1,050.72-point low recorded on March 25, 2020.</li></ul>

Technically, the SET Index is expected to attempt a technical rebound, with the resistance levels at 1,082/1,090/1,095 points and the support levels at 1,066/1,056 points.In the medium term, the index remains in a downtrend, forming a zig-zag pattern in search of the bottom, with the revised trading range now between 960-1,200 points.In the short term, the market is still in a downtrend (forming new lows followed by rebounds), but a technical rebound is possible after the index hit a new low for the year at 1,056.41 points yesterday — the lowest level in over five years, compared to the 1,050.72-point low recorded on March 25, 2020.

KTX Zoom: Keep a Close Watch on US FOMC Minutes and US Wholesale Inventories

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into the portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 223% versus MSCI ASEAN’s 30%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Portfolio changes: Four stocks remain, 10 stocks added into the portfolio
Since its inception, the portfolio has generated a before-fee total return of 223% versus MSCI ASEAN’s 30%


<ul><li>Technically, the SET Index is expected to weaken, with the support levels at 1,150/1,140 points and the resistance at 1,166/1,174 points (10-day EMA) and 1,180 points.</li><li>In the medium term, the trend remains bearish in a zig-zag down pattern, seeking the bottom within the 1,100-1,506 range.</li><li>In the short term, the index is still in a downtrend (forming new lows followed by rebounds). </li></ul>

Technically, the SET Index is expected to weaken, with the support levels at 1,150/1,140 points and the resistance at 1,166/1,174 points (10-day EMA) and 1,180 points.In the medium term, the trend remains bearish in a zig-zag down pattern, seeking the bottom within the 1,100-1,506 range.In the short term, the index is still in a downtrend (forming new lows followed by rebounds). 

Thailand

Charoen Pokphand Foods Public Company Limited produces a wide range of food products. The Company's products include chicken, pork, shrimp, fish, eggs. and duck.

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Charoen Pokphand Foods (CPF-R TB)

Fengxiang (9977 HK): PAG’s Preconditional Privatisation Offer at HK$2.00

The shareholders with blocking stakes which have not provided irrevocables will likely be supportive as the offer is reasonable and there is a...

Arun George

KTX Zoom: CH and US Inflation - April 10, 2025

Technically, the SET Index is expected to rise, with the resistance at 1,122/1,137 points and the support at 1,080/1,066 points.

Krungthai XSpring

KTX Zoom: Keep a Close Watch on US FOMC Minutes and US Wholesale Inventories

Technically, the SET Index is expected to attempt a technical rebound, with the resistance levels at 1,082/1,090/1,095 points and the support...

Krungthai XSpring

The Stocks to Own in ASEAN – Vol. 50

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Since its inception, the portfolio has generated a...

A. Stotz Investment Research

KTX Zoom: US Employment - APRIL 4, 2025

Technically, the SET Index is expected to weaken, with the support levels at 1,150/1,140 points and the resistance at 1,166/1,174 points (10-day...

Krungthai XSpring

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