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

AVJennings (AVJ AU): AVID’s Indicative Offer at A$0.67 (103% Premium)

AVJennings (AVJ AU): Competing Offer Brewing

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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/avjennings-ltd" target="_blank" data-smartkarma-citation="entities:12578:1" rel="noopener">Avjennings Ltd (AVJ AU)</a> disclosed a competing non-binding proposal from <a href="https://www.smartkarma.com/entities/ho-bee-land-ltd" target="_blank" data-smartkarma-citation="entities:18298:1" rel="noopener">Ho Bee Land Ltd (HOBEE SP)</a> at A$0.70, a 4.5% premium to AVID’s A$0.67 offer. </li>
<li>The potential for a Ho Bee competing offer was discussed in <em><strong><a href="https://www.smartkarma.com/insights/avjennings-avj-au-competing-offer-brewing" target="_blank" data-smartkarma-citation="insights:171160" rel="noopener">AVJennings (AVJ AU): Competing Offer Brewing</a></strong></em>.</li>
<li>Despite the hefty premium to the undisturbed price, the Ho Bee offer is below NTA. Therefore, there is headroom for a bidding war as an offer at NTA implies A$0.81.</li>
</ul>



Avjennings Ltd (AVJ AU) disclosed a competing non-binding proposal from Ho Bee Land Ltd (HOBEE SP) at A$0.70, a 4.5% premium to AVID’s A$0.67 offer. 
The potential for a Ho Bee competing offer was discussed in AVJennings (AVJ AU): Competing Offer Brewing.
Despite the hefty premium to the undisturbed price, the Ho Bee offer is below NTA. Therefore, there is headroom for a bidding war as an offer at NTA implies A$0.81.


AVJennings (AVJ AU): Ho Bee Emerges with a Competing Offer