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

FleetPartners (FPR AU): Approaching the Endgame with Materially Higher Revised Offers

FleetPartners (FPR AU): SG Fleet’s NBIO at A$3.60 Is Light

FleetPartners (FPR AU): A Simmering Bidding War as Element Fleet Lobs an Offer

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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

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<li>
<a href="https://www.smartkarma.com/entities/fleetpartners-group-ltd" target="_blank" data-smartkarma-citation="entities:339:1" rel="noopener">FleetPartners Group (FPR AU)</a> has disclosed that <a href="https://www.smartkarma.com/entities/sg-fleet-group-ltd" target="_blank" data-smartkarma-citation="entities:13984:1" rel="noopener">Sg Fleet (SGF AU)</a> has increased its offer to A$4.00, and that a third bidder, <a href="https://www.smartkarma.com/entities/orix-corp" target="_blank" data-smartkarma-citation="entities:9936:1" rel="noopener">Orix Corp (8591 JP)</a>, has offered A$3.80.</li>
<li>
<a href="https://www.smartkarma.com/entities/element-fleet-management-corp" target="_blank" data-smartkarma-citation="entities:24511:1" rel="noopener">Element Fleet Management (EFN CN)</a>’s request for hard exclusivity was denied. All three proposals were made without due diligence access, which suggests there's still room for further raises.</li>
<li>The AFR reports that <a href="https://www.smartkarma.com/entities/smartgroup-corp-ltd" target="_blank" data-smartkarma-citation="entities:19954:1" rel="noopener">Smartgroup Corp (SIQ AU)</a> is also contemplating a bid. The competitive auction could push the final winning bid towards the A$4.20 to A$4.50 range.</li>
</ul>



FleetPartners Group (FPR AU) has disclosed that Sg Fleet (SGF AU) has increased its offer to A$4.00, and that a third bidder, Orix Corp (8591 JP), has offered A$3.80.

Element Fleet Management (EFN CN)’s request for hard exclusivity was denied. All three proposals were made without due diligence access, which suggests there's still room for further raises.
The AFR reports that Smartgroup Corp (SIQ AU) is also contemplating a bid. The competitive auction could push the final winning bid towards the A$4.20 to A$4.50 range.


FleetPartners (FPR AU): A Three-Way to Potentially Four-Way Tussle