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 (15 Feb) - Hisamitsu, Takara Bio, Toyota Ind, Mandom, Dongfeng, Pepper Money

Merger Arb Mondays (16 Feb) - ENN, Dongfeng, Inforich, Takara Bio, Raksul, Toyota Ind, Pepper Money

Merger Arb Mondays (02 Mar) - Dongfeng, ENN, Bluescope, Humm, ClearView, Toho Titanium, Sankei, IJM

Dongfeng Motor (489 HK): Regulatory Precondition Satisfied

Dongfeng Motor (489 HK): VOYAH Listing Docs Underscore the Upside

Dongfeng Motor (489 HK): Precondition Satisfied

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.

Event-Driven

<ul>
<li>The composite document and the updated VOYAH listing document for the <a href="https://www.smartkarma.com/entities/dongfeng-motor-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:910:1" rel="noopener">Dongfeng Motor (489 HK)</a> offer from Dongfeng Motor Corporation have been released. </li>
<li>The offer’s appraised value by Somerley (HK$10.93) and Altus (HK$11.37) has issues with the methodology. Nevertheless, my methodology, which aims to address these issues, suggests the valuations are justifiable. </li>
<li>The VOYAH listing document, which discloses the 2025 financials, points to strong fundamentals that lend further support to the valuation. The vote on 9 March remains low risk. </li>
</ul>


The composite document and the updated VOYAH listing document for the Dongfeng Motor (489 HK) offer from Dongfeng Motor Corporation have been released. 
The offer’s appraised value by Somerley (HK$10.93) and Altus (HK$11.37) has issues with the methodology. Nevertheless, my methodology, which aims to address these issues, suggests the valuations are justifiable. 
The VOYAH listing document, which discloses the 2025 financials, points to strong fundamentals that lend further support to the valuation. The vote on 9 March remains low risk. 


BAIC BluePark New Energy Techn (600733 CH)

Dongfeng Motor (489 HK): Takeaways from the Composite Doc and VOYAH’s Listing Doc