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

Dickson Concepts (113 HK): Sir Poon’s Scheme Offer Below Net Cash

Merger Arb Mondays (05 May) - Makino, Shibaura, 7&I, Dickson, Meilan, Soundwill, Smartpay, Pointsbet

Dickson Concepts (113 HK): 38% Discount to NCAV, 8.6% Dividend Yield, Steady FY24

Dickson Concept (113 HK) Update: Trading at 40% Discount to NCAV, 8% Dividend Yield

Dickson Concepts: Gleanings From the FY23 Annual Report

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dickson-concepts-intl-ltd" target="_blank" data-smartkarma-citation="entities:5052:1" rel="noopener">Dickson Concepts Intl (113 HK)</a> has entered a trading halt “<em>pending the release of an announcement pursuant to The Code on Takeovers and Mergers, which constitutes inside information of the Company.</em>”  </li>
<li>The controlling shareholder (Sir Poon) is likely seeking to launch a privatisation through a Bermuda scheme, particularly as the shares trade below net cash.</li>
<li>While no disinterested shareholder holds a blocking stake, the headcount test and a decent AGM participation rate necessitate an attractive offer. The potential offer price range is HK$5.60-9.24.</li>
</ul>



Dickson Concepts Intl (113 HK) has entered a trading halt “pending the release of an announcement pursuant to The Code on Takeovers and Mergers, which constitutes inside information of the Company.”  
The controlling shareholder (Sir Poon) is likely seeking to launch a privatisation through a Bermuda scheme, particularly as the shares trade below net cash.
While no disinterested shareholder holds a blocking stake, the headcount test and a decent AGM participation rate necessitate an attractive offer. The potential offer price range is HK$5.60-9.24.


Dickson Concepts (113 HK): Controlling Shareholder to Privatise a Negative EV Play?