Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

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Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Thematic (Sector/Industry)

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged period of uncertainty. It has also become clear that it will take months to gauge the impact that this prolonged period of uncertainty will have on both the Eurozone and global economy.

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged period of uncertainty. It has also become clear that it will take months to gauge the impact that this prolonged period of uncertainty will have on both the Eurozone and global economy.

What Investors Should Be Asking About A Brexit

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund <a href="https://www.smartkarma.com/entities/22754" target="_blank" data-smartkarma-citation="entities:22754">Vietnam Enterprise Investments Limited</a>, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently trades on the Irish Stock Exchange, may trade on the main market of the London Stock Exchange next month.  The company plans to hold an Extraordinary General Meeting on June the 21st to vote on the approval of this transfer, which is expected to potentially take place next month.  The fund currently manages over $850 million, and is most notable for…

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

<ul>
<li>Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).</li>
<li>We assess Merlin Entertainments' ESG as "Adequate", in line with the Environmental, Social and Governance scores. Controversies are "Immaterial" and Disclosure is "Weak".</li>
<li>Merlin Entertainments is a global leader in the branded, location-based entertainment business.</li>
</ul>


Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
We assess Merlin Entertainments' ESG as "Adequate", in line with the Environmental, Social and Governance scores. Controversies are "Immaterial" and Disclosure is "Weak".
Merlin Entertainments is a global leader in the branded, location-based entertainment business.


Merlin Entertainments - ESG Report - Lucror Analytics

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

Coast Entertainment Holdings L / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ardent-leisure-group-ltd" target="_blank" data-smartkarma-citation="entities:29059:1" rel="noopener">Ardent Leisure Group Ltd (ALG AU)</a>'s shareholders have approved <a href="https://www.smartkarma.com/entities/dave-buster-s-entertainment-inc" target="_blank" data-smartkarma-citation="entities:19774:1" rel="noopener">Dave &amp; Buster'S Entertainment, Inc (PLAY US)</a> acquisition of Main Event business. Ardent will receive A$670.3 million.</li>
<li>Shareholders will receive a total return of A$0.95 through capital return (A$0.46) and unfranked special dividends (A$0.49) on 13 July. </li>
<li>Precedent transactions and peer multiples suggest that the remaining business is worth A$0.23-0.30, implying a 16%-21% upside to the last close. The remaining business would be attractive to private equity. </li>
</ul>



Ardent Leisure Group Ltd (ALG AU)'s shareholders have approved Dave &amp; Buster'S Entertainment, Inc (PLAY US) acquisition of Main Event business. Ardent will receive A$670.3 million.
Shareholders will receive a total return of A$0.95 through capital return (A$0.46) and unfranked special dividends (A$0.49) on 13 July. 
Precedent transactions and peer multiples suggest that the remaining business is worth A$0.23-0.30, implying a 16%-21% upside to the last close. The remaining business would be attractive to private equity. 


Ardent Leisure’s EGM Approves the Main Event Sale

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

UK-headquartered healthcare communications and PR company <a href="https://www.smartkarma.com/entities/huntsworth-plc" target="_blank" data-smartkarma-citation="entities:28910:1" rel="noopener">Huntsworth (HNT LN)</a><a href="https://www.smartkarma.com/entities/huntsworth-plc" target="_blank" data-smartkarma-citation="entities:28910:1" rel="noopener"></a><a href="https://www.huntsworth.com/wp-content/uploads/2020/03/2.7-Announcement.pdf" target="_blank" rel="noopener">announced</a>  on March 3rd, it received an Offer from US-based private equity firm, Clayton, Dubilier &amp; Rice (CD&amp;R) valuing the company at a market cap of £400mn. The Offer price is GBP1.08/share and the consideration will be paid in the form of cash. The transaction, which will be implemented through a court-sanctioned Scheme of Arrangement, will also be conditional on receiving Target shareholder approval and merger clearances from relevant authorities in Austria, Russia, and the United States. Despite initially trading above terms, Huntsworth shares have dropped to GBP1.06 at the time of writing. With around 4 months left for completion, we take a look at the details to evaluate the likelihood of deal completion.

UK-headquartered healthcare communications and PR company Huntsworth (HNT LN)announced  on March 3rd, it received an Offer from US-based private equity firm, Clayton, Dubilier &amp; Rice (CD&amp;R) valuing the company at a market cap of £400mn. The Offer price is GBP1.08/share and the consideration will be paid in the form of cash. The transaction, which will be implemented through a court-sanctioned Scheme of Arrangement, will also be conditional on receiving Target shareholder approval and merger clearances from relevant authorities in Austria, Russia, and the United States. Despite initially trading above terms, Huntsworth shares have dropped to GBP1.06 at the time of writing. With around 4 months left for completion, we take a look at the details to evaluate the likelihood of deal completion. 

Huntsworth: All-Cash Friendly Deal Now Trading Wide

United Kingdom

Merlin Entertainments plc operates branded, location based family entertainment attractions. The Company owns and operates a global portfolio of assets including city centre and resort-based indoor attractions and LEGOLAND and national-branded resort theme parks. Merlin Entertainments offers its products and services in North America, Europe and the Asia Pacific region.

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Merlin Entertainments (MERL LN)

What Investors Should Be Asking About A Brexit

Last week the immediate shock from the Brexit eased considerably. It has become clear that all the Brexit vote really did was guarantee a prolonged...

David Riedel

Dragon Capital's VEIL Fund: A 3rd London Listing for Vietnam May Emerge Next Month

Transition from the Irish Stock Exchange to the London Stock ExchangeDragon Capital’s fund Vietnam Enterprise Investments Limited, which currently...

Nomadic Equity

Merlin Entertainments - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We assess Merlin Entertainments'...

Lucror Analytics

Ardent Leisure’s EGM Approves the Main Event Sale

Shareholders have approved the sale of Main Event. Precedent transactions and peer multiples suggest that the remaining business is worth A$0.23...

Arun George

Huntsworth: All-Cash Friendly Deal Now Trading Wide

UK-headquartered healthcare communications and PR company Huntsworth (HNT LN)announced on March 3rd, it received an Offer from US-based private...

Janaghan Jeyakumar, CFA

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