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

Fosun Tourism (1992 HK): Scheme Buyback at HK$7.80 (95% Premium)

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>
<a href="https://www.smartkarma.com/entities/fosun-tourism-group" target="_blank" data-smartkarma-citation="entities:27439:1" rel="noopener">Fosun Tourism (1992 HK)</a>’s IFA opines that the share buyback privatisation offer of HK$7.80 is fair and reasonable. The vote is on 4 March. </li>
<li>The key condition is the scheme be approved by at least 75% of disinterested shareholders (rejection by &lt;10% of disinterested shareholders). No disinterested shareholder holds a blocking stake.</li>
<li>Despite disclosing a potential REIT listing, there are no signs of dissent. At the last close, the gross/annualised spread for a 26 March payment was 3.5%/30.2%.</li>
</ul>



Fosun Tourism (1992 HK)’s IFA opines that the share buyback privatisation offer of HK$7.80 is fair and reasonable. The vote is on 4 March. 
The key condition is the scheme be approved by at least 75% of disinterested shareholders (rejection by &lt;10% of disinterested shareholders). No disinterested shareholder holds a blocking stake.
Despite disclosing a potential REIT listing, there are no signs of dissent. At the last close, the gross/annualised spread for a 26 March payment was 3.5%/30.2%.


China Travel International Investment Hong Kong (308 HK)

China Travel International Investment Hong Kong

Fosun Tourism (1992 HK): Scheme Buyback a Done Deal with Vote on 4 March