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

EVOC Intelligent Technology / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/evoc-intelligent-technology-company-limited-h" target="_blank" data-smartkarma-citation="entities:2015:1" rel="noopener">EVOC Intelligent Technology Company Limited H (2308 HK)</a>’s delisting resolution was approved - 81.20 % of independent H Share votes cast FOR (7.05% of all independent H Shareholders AGAINST).</li>
<li>The gross spread recently increased from 2.9% (11 October) to 7.5% (13 October) due to nervousness about another failed privatisation attempt after two failed bids. </li>
<li>The last trading date is 20 October. At last close and for the 7 November payment date, the gross and annualised spread to the offer is 5.4% and 164.7%, respectively.</li>
</ul>



EVOC Intelligent Technology Company Limited H (2308 HK)’s delisting resolution was approved - 81.20 % of independent H Share votes cast FOR (7.05% of all independent H Shareholders AGAINST).
The gross spread recently increased from 2.9% (11 October) to 7.5% (13 October) due to nervousness about another failed privatisation attempt after two failed bids. 
The last trading date is 20 October. At last close and for the 7 November payment date, the gross and annualised spread to the offer is 5.4% and 164.7%, respectively.


EVOC’s H Share Class Meeting – And that Is a Pass

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.</li>
<li>Highest spreads - <a href="https://www.smartkarma.com/entities/21-vianet-group-inc-adr" target="_blank" data-smartkarma-citation="entities:8489:1" rel="noopener">21Vianet Group (VNET US)</a>, <a href="https://www.smartkarma.com/entities/alliance-aviation-services-ltd" target="_blank" data-smartkarma-citation="entities:20401:1" rel="noopener">Alliance Aviation Services (AQZ AU)</a>, <a href="https://www.smartkarma.com/entities/111-inc" target="_blank" data-smartkarma-citation="entities:27412:1" rel="noopener">111 Inc (YI US)</a>, <a href="https://www.smartkarma.com/entities/genex-power-ltd" target="_blank" data-smartkarma-citation="entities:29079:1" rel="noopener">Genex Power Ltd (GNX AU)</a>, <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>, <a href="https://www.smartkarma.com/entities/o2micro-international-limited" target="_blank" data-smartkarma-citation="entities:36418:1" rel="noopener">O2Micro International (OIIM US)</a>.</li>
<li>Lowest spreads - <a href="https://www.smartkarma.com/entities/tyro-payments-ltd" target="_blank" data-smartkarma-citation="entities:28393:1" rel="noopener">Tyro Payments (TYR AU)</a>,<a href="https://www.smartkarma.com/entities/oz-minerals-ltd" target="_blank" data-smartkarma-citation="entities:1138:1" rel="noopener">OZ Minerals Ltd (OZL AU)</a>, <a href="https://www.smartkarma.com/entities/nitro-software-ltd" target="_blank" data-smartkarma-citation="entities:30943:1" rel="noopener">Nitro Software Ltd (NTO AU)</a>, <a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">True Corp Pcl (TRUE TB)</a>, <a href="https://www.smartkarma.com/entities/cocoaland-holdings-bhd" target="_blank" data-smartkarma-citation="entities:493:1" rel="noopener">Cocoaland Holdings (COLA MK)</a>, China VAST.</li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations covered by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
Highest spreads - 21Vianet Group (VNET US), Alliance Aviation Services (AQZ AU), 111 Inc (YI US), Genex Power Ltd (GNX AU), Shandong Fengxiang (9977 HK), O2Micro International (OIIM US).
Lowest spreads - Tyro Payments (TYR AU),OZ Minerals Ltd (OZL AU), Nitro Software Ltd (NTO AU), True Corp Pcl (TRUE TB), Cocoaland Holdings (COLA MK), China VAST.


Merger Arb Mondays (17 Oct) - EVOC, Fengxiang, Lifestyle, Genex, Pendal, DTAC/True, Eagle Cement

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments - <a href="https://www.smartkarma.com/entities/zhejiang-leapmotor-technology" target="_blank" data-smartkarma-citation="entities:35968:1" rel="noopener">Leapmotor (9863 HK)</a> and <a href="https://www.smartkarma.com/entities/onewo-space-tech" target="_blank" data-smartkarma-citation="entities:36204:1" rel="noopener">Onetwo (2602 HK)</a> poor debuts. <a href="https://www.smartkarma.com/entities/calb-co-ltd" target="_blank" data-smartkarma-citation="entities:35985:1" rel="noopener">CALB (3931 HK)</a> prices at the low-end.</li>
<li>Event-Driven developments - <a href="https://www.smartkarma.com/entities/sats-ltd" target="_blank" data-smartkarma-citation="entities:19962:1" rel="noopener">SATS (SATS SP)</a>, <a href="https://www.smartkarma.com/entities/jinke-smart-services-group-co" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a>, <a href="https://www.smartkarma.com/entities/evoc-intelligent-technology-company-limited-h" target="_blank" data-smartkarma-citation="entities:2015:1" rel="noopener">EVOC Intelligent Technology Company Limited H (2308 HK)</a>, <a href="https://www.smartkarma.com/entities/tassal-group-ltd" target="_blank" data-smartkarma-citation="entities:16234:1" rel="noopener">Tassal (TGR AU)</a>, <a href="https://www.smartkarma.com/entities/maca-ltd" target="_blank" data-smartkarma-citation="entities:11390:1" rel="noopener">MACA Ltd (MLD AU)</a>, <a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a>. </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments - Leapmotor (9863 HK) and Onetwo (2602 HK) poor debuts. CALB (3931 HK) prices at the low-end.
Event-Driven developments - SATS (SATS SP), Jinke Smart Services (9666 HK), EVOC Intelligent Technology Company Limited H (2308 HK), Tassal (TGR AU), MACA Ltd (MLD AU), Nearmap Ltd (NEA AU). 


Weekly Deals Digest (02 Oct) - SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Growatt, CALB

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The Composite Document for electronics play and property developer <a href="https://www.smartkarma.com/entities/evoc-intelligent-technology-company-limited-h" target="_blank" data-smartkarma-citation="entities:2015:1" rel="noopener">EVOC Intelligent Technology Company  (2308 HK)</a>, has been dispatched.  The EM and H-Class meeting will be held on the 19 October. </li>
<li>The Offer Price is HK$1.75/share. It will not be increased. No further dividends will be added. </li>
<li>This is done. Trading at a gross/annualised spread of 2.9%/34%.</li>
</ul>


The Composite Document for electronics play and property developer EVOC Intelligent Technology Company  (2308 HK), has been dispatched.  The EM and H-Class meeting will be held on the 19 October. 
The Offer Price is HK$1.75/share. It will not be increased. No further dividends will be added. 
This is done. Trading at a gross/annualised spread of 2.9%/34%.


EVOC (2308 HK): 19 October H-Class Meeting. IFA Says Fair & Reasonable

<ul>
<li>
<a href="https://www.smartkarma.com/entities/evoc-intelligent-technology-company-limited-h" target="_blank" data-smartkarma-citation="entities:2015:1" rel="noopener">EVOC Intelligent Technology Company Limited H (2308 HK)</a>'s H Shareholders’ class meeting is scheduled for 19 October. The IFA considers the offer to be fair and reasonable.</li>
<li>The key conditions are approval by at least 75% of independent H Shareholders (&lt;10% of all independent H Shareholders' rejection). There is no minimum acceptance condition.</li>
<li>The offer is attractive and should gain approval. At last close and for a 7 November payment, the gross and annualised spread to the offer is 2.9% and 26.0%, respectively. </li>
</ul>



EVOC Intelligent Technology Company Limited H (2308 HK)'s H Shareholders’ class meeting is scheduled for 19 October. The IFA considers the offer to be fair and reasonable.
The key conditions are approval by at least 75% of independent H Shareholders (&lt;10% of all independent H Shareholders' rejection). There is no minimum acceptance condition.
The offer is attractive and should gain approval. At last close and for a 7 November payment, the gross and annualised spread to the offer is 2.9% and 26.0%, respectively. 


EVOC’s H Share Class Meeting on 19 October

China

EVOC Intelligent Technology Co. Ltd. specializes in the research, development, manufacturing, distribution, and system integration of embedded intelligent platforms (EIP) and industrial computers. The company offers chassis-type EIP products, board-type EIP products, and remote data modules, serving various industries including industrial Internet, aerospace, AI, intelligent transportation, telecommunications, and finance. EVOC Intelligent Technology was founded in 1993 and is headquartered in Shenzhen, China.

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EVOC Intelligent Technology (2308 HK)

Merger Arb Mondays (17 Oct) - EVOC, Fengxiang, Lifestyle, Genex, Pendal, DTAC/True, Eagle Cement

This week, the highest gross spreads are VNET (65.0%), Alliance Aviation (46.2%), 111 (36.4%), Genex (22.0%), O2Micro (17.9%), Pendal (16.1%),...

Arun George

Weekly Deals Digest (02 Oct) - SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Growatt, CALB

Last week, notable developments occurred in Event-Driven (SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Nearmap, Ramsay, Infomedia) and ECM...

Arun George

EVOC (2308 HK): 19 October H-Class Meeting. IFA Says Fair & Reasonable

There's enough here to see the Offer get up. It has been declared final for that reason. Buy here. I expect the share price to increase to...

David Blennerhassett

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52-week Range

Market Cap (USDm)

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EVOC’s H Share Class Meeting – And that Is a Pass

The last trading date is 20 October. At last close and for the 7 November payment date, the gross and annualised spread to the offer is 5.4% and...

Arun George

Merger Arb Mondays (17 Oct) - EVOC, Fengxiang, Lifestyle, Genex, Pendal, DTAC/True, Eagle Cement

This week, the highest gross spreads are VNET (65.0%), Alliance Aviation (46.2%), 111 (36.4%), Genex (22.0%), O2Micro (17.9%), Pendal (16.1%),...

Arun George

Weekly Deals Digest (02 Oct) - SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Growatt, CALB

Last week, notable developments occurred in Event-Driven (SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Nearmap, Ramsay, Infomedia) and ECM...

Arun George

EVOC (2308 HK): 19 October H-Class Meeting. IFA Says Fair & Reasonable

There's enough here to see the Offer get up. It has been declared final for that reason. Buy here. I expect the share price to increase to...

David Blennerhassett

EVOC’s H Share Class Meeting on 19 October

The offer is attractive and should gain approval. At the last close and for a 7 November payment, the annualised spread to the offer is 26.0%.

Arun George