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

Fraser Hospitality Trust’s Scheme Meeting on 12 September

Frasers Hospitality Trust’s Scheme Votes Unexpectedly Falls Short

Fraser Hospitality Trust’s Privatisation Offer from Frasers Property Limited

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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/frasers-hospitality-trust" target="_blank" data-smartkarma-citation="entities:913:1" rel="noopener">Frasers Hospitality Trust (FHT SP)</a> announced a scheme privatisation from <a href="https://www.smartkarma.com/entities/frasers-property-ltd" target="_blank" data-smartkarma-citation="entities:1670:1" rel="noopener">Frasers Property Ltd (FPL SP)</a> at S$0.71 cash and permitted distributions (estimated at S$0.0086 per unit).</li>
<li>The 2022 scheme failed because it narrowly missed the 75% approval threshold. The current offer is light compared to the 2022 offer in several ways.</li>
<li>Emerging retail opposition could make satisfying the headcount test challenging. The offer has not been declared final, and a bump is possible.</li>
</ul>



Frasers Hospitality Trust (FHT SP) announced a scheme privatisation from Frasers Property Ltd (FPL SP) at S$0.71 cash and permitted distributions (estimated at S$0.0086 per unit).
The 2022 scheme failed because it narrowly missed the 75% approval threshold. The current offer is light compared to the 2022 offer in several ways.
Emerging retail opposition could make satisfying the headcount test challenging. The offer has not been declared final, and a bump is possible.


Fraser Hospitality Trust (FHT SP): Frasers Property’s Light Scheme Offer