IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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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/olam-group" target="_blank" data-smartkarma-citation="entities:765:1" rel="noopener">Olam Group (OLG SP)</a> has despatched the EGM circular to get shareholder approval for the next step in the restructuring exercise to unlock value - Olam Agri IPO.</li>
<li>The Olam Agri IPO through a dual primary listing (SGX ST and Saudi Arabia) involves a primary (IPO shares are 20% of enlarged shares) and secondary (25% vendor sale) offering. </li>
<li>The EGM marks a key step in the strategy to unlock value. Our SoTP valuation is S$2.13 per share, which is a 28% upside to the last close price.</li>
</ul>



Olam Group (OLG SP) has despatched the EGM circular to get shareholder approval for the next step in the restructuring exercise to unlock value - Olam Agri IPO.
The Olam Agri IPO through a dual primary listing (SGX ST and Saudi Arabia) involves a primary (IPO shares are 20% of enlarged shares) and secondary (25% vendor sale) offering. 
The EGM marks a key step in the strategy to unlock value. Our SoTP valuation is S$2.13 per share, which is a 28% upside to the last close price.


Olam Group (OLG SP): EGM on 29 March Another Step to Realize Value

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>UOB KayHian issues 'Buy' rating for ASL Marine, target price at 33 cents.</li><li>Analysts boost outlook on Wilmar after 3Q update and Indonesia cooking oil case end.</li><li>CGSI expects DFI to prioritize medium-term goals and acquisitions at the investor day.</li></ul>

UOB KayHian issues 'Buy' rating for ASL Marine, target price at 33 cents.Analysts boost outlook on Wilmar after 3Q update and Indonesia cooking oil case end.CGSI expects DFI to prioritize medium-term goals and acquisitions at the investor day.

Singapore Market Roundup (04-Nov-2025): UOB KayHian rates ASL Marine 'Buy', target at 33 cents.

<ul><li>UOB KayHian starts 'Buy' on ASL Marine, targeting 33 cents.</li><li>Analysts optimistic on Wilmar after 3Q update and Indonesia cooking oil case resolution.</li><li>CGSI expects DFI's management to prioritize medium-term goals and acquisitions.</li></ul>

UOB KayHian starts 'Buy' on ASL Marine, targeting 33 cents.Analysts optimistic on Wilmar after 3Q update and Indonesia cooking oil case resolution.CGSI expects DFI's management to prioritize medium-term goals and acquisitions.

Singapore Market Roundup (03-Nov-2025): UOB KayHian initiates 'Buy' on ASL Marine, target 33

<ul><li>RHB raises STI year-end target to 4,690 and highlights top sector picks.</li><li>Analysts are optimistic about CICT, stating it's 'revving on all engines.'</li><li>UOB Kay Hian's Loh sets Centurion Accommodation REIT's target price at $1.23.</li></ul>

RHB raises STI year-end target to 4,690 and highlights top sector picks.Analysts are optimistic about CICT, stating it's 'revving on all engines.'UOB Kay Hian's Loh sets Centurion Accommodation REIT's target price at $1.23.

Singapore Market Roundup (30-Oct-2025): RHB raises STI target to 4,690, names top sector picks.

<ul><li>Genting Singapore, Sanli Environmental, Marco Polo Marine, Suntec REIT, CDL news.</li><li>RHB raises STI year-end target to 4,690 and highlights top sector picks.</li><li>CapitaLand India Trust sees 10% growth in total and net property income in 3Q2025.</li></ul>

Genting Singapore, Sanli Environmental, Marco Polo Marine, Suntec REIT, CDL news.RHB raises STI year-end target to 4,690 and highlights top sector picks.CapitaLand India Trust sees 10% growth in total and net property income in 3Q2025.

Singapore Market Roundup (31-Oct-2025): Genting Singapore, Sanli, Marco Polo, Suntec REIT, CDL

Singapore

Wilmar International Ltd. is an agribusiness company. The Company is involved in oil palm cultivation, edible oils refining, oilseeds crushing, consumer pack edible oils processing and merchandising, specialty fats, oleochemicals and biodiesel manufacturing, and grains processing and merchandising. Wilmar also manufactures and distributes fertilizers and owns a fleet of vessels.

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Wilmar International (WIL SP)

Olam Group (OLG SP): EGM on 29 March Another Step to Realize Value

The EGM marks a key step in the strategy to unlock value. Our SoTP valuation is S$2.13 per share, which is a 28% upside to the last close price.

Arun George

Singapore Market Roundup (04-Nov-2025): UOB KayHian rates ASL Marine 'Buy', target at 33 cents.

UOB KayHian rates ASL Marine as 'Buy' with a target of 33 cents. Analysts raise Wilmar's outlook post-3Q update. CGSI expects DFI to focus on...

Singapore Market Roundup

Singapore Market Roundup (03-Nov-2025): UOB KayHian initiates 'Buy' on ASL Marine, target 33

UOB KayHian initiates 'Buy' on ASL Marine at 33 cents. Analysts are positive on Wilmar post-3Q update; CGSI sees DFI focusing on medium-term goals...

Singapore Market Roundup

Singapore Market Roundup (30-Oct-2025): RHB raises STI target to 4,690, names top sector picks.

RHB raises STI year-end target to 4,690, favors CICT, while UOB Kay Hian sets Centurion Accommodation REIT's target price at $1.23.

Singapore Market Roundup

Singapore Market Roundup (31-Oct-2025): Genting Singapore, Sanli, Marco Polo, Suntec REIT, CDL

Genting Singapore, Sanli Environmental, Marco Polo Marine, Suntec REIT, and CDL news. RHB raises STI target to 4,690; CapitaLand India Trust...

Singapore Market Roundup

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