IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

AAG Energy (2686 HK): Rushed Scheme Document Points to a Vote on a Knife Edge

Weekly Deals Digest (02 Apr) - AAG, Liontown, Mincor, Toshiba, Rakuten Bank, Trial, Harita Nickel

Merger Arb Mondays (03 Apr) - Toshiba, Toyo, AAG, Origin, United Malt, Liontown, Mincor, Healius

AAG Energy (2686 HK): Is Xinjiang Xintai Returning for Another Bid?

AAG Energy (2686 HK): Xinjiang Xintai’s Light but Final HK$1.85 Offer

AAG Energy (2686 HK): Solid Results Amplify the Risk of the NO Vote

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aag-energy-holdings-ltd" target="_blank" data-smartkarma-citation="entities:501:1" rel="noopener">Aag Energy Holdings (2686 HK)</a> noted that the pre-condition for <a href="https://www.smartkarma.com/entities/xinjiang-xintai-natural-gas-a" target="_blank" data-smartkarma-citation="entities:27036:1" rel="noopener">Xinjiang Xintai Natural Gas (603393 CH)</a> privatisation offer at HK$1.85 per share has been satisfied (which was expected). </li>
<li>The gross spread has widened to 16.4% due to concerns that the recent solid FY22 results, lack of dividends and the skinny premium would nudge minorities to vote NO.</li>
<li>It remains unclear if the dissatisfied retail minorities have enough votes to block the scheme. The downside remains low as the shares are trading 5% below the undisturbed price. </li>
</ul>



Aag Energy Holdings (2686 HK) noted that the pre-condition for Xinjiang Xintai Natural Gas (603393 CH) privatisation offer at HK$1.85 per share has been satisfied (which was expected). 
The gross spread has widened to 16.4% due to concerns that the recent solid FY22 results, lack of dividends and the skinny premium would nudge minorities to vote NO.
It remains unclear if the dissatisfied retail minorities have enough votes to block the scheme. The downside remains low as the shares are trading 5% below the undisturbed price. 


AAG Energy (2686 HK): Pre-Condition Satisfied as Doubts Sets In