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

Weekly Deals Digest (24 Aug) - Mayne Pharma, PointsBet, Lynch, Dongfeng Motor, ENN Energy, Shibaura

Merger Arb Mondays (25 Aug) - Dongfeng, ENN Energy, Shibaura, Santos, Lynch, Smart Share

Abacus Storage King (ASK AU): Ki Corp/Public Storage’s Revised NBIO Faces a Daunting Challenge

Abacus Storage King (ASK AU): Ki Corp/Public Storage’s NBIO at A$1.47

Abacus Property (ABP AU): Abacus Storage King De-Stapling to Unlock Value

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>The six-week due diligence for Ki Corporation and <a href="https://www.smartkarma.com/entities/public-storage" target="_blank" data-smartkarma-citation="entities:18193:1" rel="noopener">Public Storage (PSA US)</a>'s A$1.65 offer for <a href="https://www.smartkarma.com/entities/abacus-storage-king" target="_blank" data-smartkarma-citation="entities:39857:1" rel="noopener">Abacus Storage King (ASK AU)</a> ends on 1 September.</li>
<li>Some readers have asked if ASK is attractive at the current 7.5% gross spread. I think caution is warranted as there is a medium-to-high probability of no deal.</li>
<li>The probability of a binding scheme is low, as NSR will block it, and the Board requires a bump to recommend it. A takeover offer is not a credible alternative. </li>
</ul>


The six-week due diligence for Ki Corporation and Public Storage (PSA US)'s A$1.65 offer for Abacus Storage King (ASK AU) ends on 1 September.
Some readers have asked if ASK is attractive at the current 7.5% gross spread. I think caution is warranted as there is a medium-to-high probability of no deal.
The probability of a binding scheme is low, as NSR will block it, and the Board requires a bump to recommend it. A takeover offer is not a credible alternative. 


Abacus Storage King (ASK AU): Caution Is Warranted