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

Canvest Environmental Protection Group / Event-Driven

Canvest Environmental Protection Group (0XC SW)

<ul>
<li>We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.</li>
<li>Highest spreads: <a href="https://www.smartkarma.com/entities/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>, <a href="https://www.smartkarma.com/entities/smart-share-global-limited" target="_blank" data-smartkarma-citation="entities:32217:1" rel="noopener">Smart Share Global (EM US)</a>, <a href="https://www.smartkarma.com/entities/lifestyle-china-group-ltd" target="_blank" data-smartkarma-citation="entities:26090:1" rel="noopener">Lifestyle China (2136 HK)</a>, <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a>, <a href="https://www.smartkarma.com/entities/get-nice-financial-group-ltd" target="_blank" data-smartkarma-citation="entities:29667:1" rel="noopener">Get Nice Financial Group Ltd (1469 HK)</a>. </li>
<li>Lowest spreads: <a href="https://www.smartkarma.com/entities/makino-milling-machine-co" target="_blank" data-smartkarma-citation="entities:5200:1" rel="noopener">Makino Milling Machine Co (6135 JP)</a>, <a href="https://www.smartkarma.com/entities/fuji-soft-inc" target="_blank" data-smartkarma-citation="entities:17504:1" rel="noopener">Fuji Soft Inc (9749 JP)</a>, <a href="https://www.smartkarma.com/entities/avjennings-ltd" target="_blank" data-smartkarma-citation="entities:12578:1" rel="noopener">Avjennings Ltd (AVJ AU)</a>, <a href="https://www.smartkarma.com/entities/latin-resources-ltd" target="_blank" data-smartkarma-citation="entities:8770:1" rel="noopener">Latin Resources (LRS AU)</a>, <a href="https://www.smartkarma.com/entities/pressance-corp" target="_blank" data-smartkarma-citation="entities:17783:1" rel="noopener">Pressance Corp (3254 JP)</a>. </li>
</ul>


We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
Highest spreads: Shanghai Henlius Biotech (2696 HK), Smart Share Global (EM US), Lifestyle China (2136 HK), Seven &amp; I Holdings (3382 JP), Get Nice Financial Group Ltd (1469 HK). 
Lowest spreads: Makino Milling Machine Co (6135 JP), Fuji Soft Inc (9749 JP), Avjennings Ltd (AVJ AU), Latin Resources (LRS AU), Pressance Corp (3254 JP). 


Merger Arb Mondays (20 Jan) - Canvest, Henlius, Lifestyle China, Vesync, JAMCO, Insignia, AVJennings

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/lg-cns-co-ltd" target="_blank" data-smartkarma-citation="entities:35945:1" rel="noopener">LG CNS (LGCNSZ KS)</a> seeks to raise up to US$837 million through a primary/secondary offering.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>, <a href="https://www.smartkarma.com/entities/greatview-aseptic-packaging" target="_blank" data-smartkarma-citation="entities:10802:1" rel="noopener">Greatview Aseptic Packaging (468 HK)</a>, <a href="https://www.smartkarma.com/entities/jamco-corp" target="_blank" data-smartkarma-citation="entities:14741:1" rel="noopener">Jamco Corp (7408 JP)</a>, <a href="https://www.smartkarma.com/entities/macromill-inc" target="_blank" data-smartkarma-citation="entities:24026:1" rel="noopener">Macromill, Inc (3978 JP)</a>, <a href="https://www.smartkarma.com/entities/insignia-financial-ltd" target="_blank" data-smartkarma-citation="entities:12349:1" rel="noopener">Insignia Financial (IFL AU)</a>, <a href="https://www.smartkarma.com/entities/avjennings-ltd" target="_blank" data-smartkarma-citation="entities:12578:1" rel="noopener">Avjennings Ltd (AVJ 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, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: LG CNS (LGCNSZ KS) seeks to raise up to US$837 million through a primary/secondary offering.
Event-Driven developments: Shanghai Henlius Biotech (2696 HK), Greatview Aseptic Packaging (468 HK), Jamco Corp (7408 JP), Macromill, Inc (3978 JP), Insignia Financial (IFL AU), Avjennings Ltd (AVJ AU). 



Weekly Deals Digest (19 Jan) - Henlius, GA Pack, Lifestyle China, Jamco, Macromill, Insignia, AVJ

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>LVC sits a blocking stake ahead of <a href="https://www.smartkarma.com/entities/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>'s shareholder vote on the 22nd Janaury. I've yet to see a solid rationality why they would block.</li>
<li>
<a href="https://www.smartkarma.com/entities/malaysia-airports-holdings-bhd" target="_blank" data-smartkarma-citation="entities:117:1" rel="noopener">Malaysia Airports Holdings (MAHB MK)</a>extends the closing date to the 24th January. Shares held plus tendering is currently 86.18%. This is done.</li>
<li>
<a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a> was IPOed in September 2023. Lockup expiry is next week, and there is a likely large index event in ~10 weeks</li>
</ul>


LVC sits a blocking stake ahead of Shanghai Henlius Biotech (2696 HK)'s shareholder vote on the 22nd Janaury. I've yet to see a solid rationality why they would block.

Malaysia Airports Holdings (MAHB MK)extends the closing date to the 24th January. Shares held plus tendering is currently 86.18%. This is done.

Kokusai Electric (6525 JP) was IPOed in September 2023. Lockup expiry is next week, and there is a likely large index event in ~10 weeks


Last Week In Event SPACE: Shanghai Henlius, Malaysia Airports, Kokusai Electric, Smart Share

<ul>
<li>I tally 51 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. I've yet to see a solid rationality why they would block.</li>
<li>One new deal was discussed this week: Bain's Tender Offer for <a href="https://www.smartkarma.com/entities/jamco-corp" target="_blank" data-smartkarma-citation="entities:14741:1" rel="noopener">Jamco Corp (7408 JP)</a>. <a href="https://www.smartkarma.com/entities/ho-bee-land-ltd" target="_blank" data-smartkarma-citation="entities:18298:1" rel="noopener">Ho Bee Land Ltd (HOBEE SP)</a> also countered for <a href="https://www.smartkarma.com/entities/avjennings-ltd" target="_blank" data-smartkarma-citation="entities:12578:1" rel="noopener">AVJennings Ltd (AVJ AU)</a>.</li>
<li>Key updates/news took place on: <a href="https://www.smartkarma.com/entities/insignia-financial-ltd" target="_blank" data-smartkarma-citation="entities:12349:1" rel="noopener">Insignia Financial (IFL AU)</a>, <a href="https://www.smartkarma.com/entities/lifestyle-china-group-ltd" target="_blank" data-smartkarma-citation="entities:26090:1" rel="noopener">Lifestyle China (2136 HK)</a>, and <a href="https://www.smartkarma.com/entities/advanced-info-service-pcl" target="_blank" data-smartkarma-citation="entities:947:1" rel="noopener">Advanced Info Service (ADVANC TB)</a>/<a href="https://www.smartkarma.com/entities/thaicom-pcl" target="_blank" data-smartkarma-citation="entities:18019:1" rel="noopener">Thaicom Pcl (THCOM TB)</a>.</li>
</ul>


I tally 51 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. I've yet to see a solid rationality why they would block.
One new deal was discussed this week: Bain's Tender Offer for Jamco Corp (7408 JP). Ho Bee Land Ltd (HOBEE SP) also countered for AVJennings Ltd (AVJ AU).
Key updates/news took place on: Insignia Financial (IFL AU), Lifestyle China (2136 HK), and Advanced Info Service (ADVANC TB)/Thaicom Pcl (THCOM TB).


(Mostly) Asia-Pac M&A: Jamco, AVJennings, Insignia Financial, Advanced Info Service/Thaicom

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Equity Bottom-Up

<ul><li>Scape, a living platform, receives a significant investment of $434 million from Korea's NPS, boosting its growth and expansion.</li><li>Ho Bee Land makes a competitive bid of $242 million for an Australian builder, directly challenging Proprium Capital in the real estate market.</li><li>Korea's NPS joins forces with Almanac Realty in a $800 million real estate joint venture, solidifying their presence in the industry.</li></ul>

Scape, a living platform, receives a significant investment of $434 million from Korea's NPS, boosting its growth and expansion.Ho Bee Land makes a competitive bid of $242 million for an Australian builder, directly challenging Proprium Capital in the real estate market.Korea's NPS joins forces with Almanac Realty in a $800 million real estate joint venture, solidifying their presence in the industry.

Asia Real Estate Tracker (16-Jan-2025): Scape secures $434M from Korea's NPS.

Singapore

Ho Bee Land is a Singapore-based real estate development and investment company. It specializes in residential, commercial, and high-tech industrial projects, including luxury homes in Sentosa Cove and Grade A office developments like The Metropolis. The company was founded in 1987 and is headquartered in Singapore.

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Ho Bee Land (HOBEE SP)

Merger Arb Mondays (20 Jan) - Canvest, Henlius, Lifestyle China, Vesync, JAMCO, Insignia, AVJennings

This week, the highest gross spreads are Henlius (29.3%), Smart Share (16.8%), Lifestyle China (16.7%), Seven & I (15.4%), Get Nice (13.3%), ESR...

Arun George

Weekly Deals Digest (19 Jan) - Henlius, GA Pack, Lifestyle China, Jamco, Macromill, Insignia, AVJ

Last week, notable developments occurred in Event-Driven (Canvest, Henlius, GA Pack, Lifestyle China, Haitong/GJTA, Jamco, Macromill, 7&i,...

Arun George

(Mostly) Asia-Pac M&A: Jamco, AVJennings, Insignia Financial, Advanced Info Service/Thaicom

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Asia Real Estate Tracker (16-Jan-2025): Scape secures $434M from Korea's NPS.

Scape receives $434M investment from Korea's NPS, Ho Bee Land offers $242M for Aussie builder, and Korea's NPS partners with Almanac Realty for...

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Merger Arb Mondays (20 Jan) - Canvest, Henlius, Lifestyle China, Vesync, JAMCO, Insignia, AVJennings

This week, the highest gross spreads are Henlius (29.3%), Smart Share (16.8%), Lifestyle China (16.7%), Seven & I (15.4%), Get Nice (13.3%), ESR...

Arun George

Weekly Deals Digest (19 Jan) - Henlius, GA Pack, Lifestyle China, Jamco, Macromill, Insignia, AVJ

Last week, notable developments occurred in Event-Driven (Canvest, Henlius, GA Pack, Lifestyle China, Haitong/GJTA, Jamco, Macromill, 7&i,...

Arun George

Last Week In Event SPACE: Shanghai Henlius, Malaysia Airports, Kokusai Electric, Smart Share

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

(Mostly) Asia-Pac M&A: Jamco, AVJennings, Insignia Financial, Advanced Info Service/Thaicom

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Asia Real Estate Tracker (16-Jan-2025): Scape secures $434M from Korea's NPS.

Scape receives $434M investment from Korea's NPS, Ho Bee Land offers $242M for Aussie builder, and Korea's NPS partners with Almanac Realty for...

Asia Real Estate Tracker