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

Alibaba’s Cloud Intelligence Group Spin-Off: The First Look

Weekly Deals Digest (25 Jun) - Alibaba, JSR, Shinsei, Arcland, InvoCare, J&T Global, Amman Mineral

Weekly Deals Digest (01 Oct) - Cainiao, Kokusai, Doosan, IMAX China, Keiyo, Toyo, Liontown

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.

Equity Capital Markets

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a> aims to complete the IPO of <a href="https://www.smartkarma.com/entities/cainiao-smart-logistics-network-ltd" target="_blank" data-smartkarma-citation="entities:36859:1" rel="noopener">Cainiao Smart Logistics (1437124D HK)</a> in the next 12 to 18 months. Alibaba holds a 67% stake in Cainiao. </li>
<li>Cainiao's revenue growth, while on a declining trend, remains in double digits. Encouragingly. narrowing losses set a path to profitability.</li>
<li>On 30 March, Bloomberg reported that Cainiao is currently valued at more than US$20 billion. Our valuation analysis suggests that such a valuation is justifiable.</li>
</ul>



Alibaba (ADR) (BABA US) aims to complete the IPO of Cainiao Smart Logistics (1437124D HK) in the next 12 to 18 months. Alibaba holds a 67% stake in Cainiao. 
Cainiao's revenue growth, while on a declining trend, remains in double digits. Encouragingly. narrowing losses set a path to profitability.
On 30 March, Bloomberg reported that Cainiao is currently valued at more than US$20 billion. Our valuation analysis suggests that such a valuation is justifiable.


Cainiao Smart Logistics Network (1437124D HK)

Alibaba Group Holding

Alibaba’s Cainiao IPO: The First Look