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

Golden Energy (GER SP): DSS Vote on 2 May; Appraiser Unconvincingly States that Offer Is Fair

Golden Energy (GER SP): Annual Report Data Points Further Underscore a Low-Balled Offer

Weekly Deals Digest (09 Apr) - Rakuten Bank, ZJLD, Harita, HKBN, Toyo, Estia, Mincor, Pushpay

Golden Energy (GER SP): The Disconnect Between the Offer and Underlying Assets

Golden Energy (GER SP): Long-Stop Date Extended as the Offer Looks Increasingly Light

Golden Energy & Resources (GER SP)’s Lacking Offer from the Widjaja Family

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/united-fiber-system-ltd" target="_blank" data-smartkarma-citation="entities:20826:1" rel="noopener">Golden Energy &amp; Resources (GER SP)</a>'s revised proposal from the Widjaja family - distribution proposal (1.3936 GEMS share per share or IDR6,500 per GEMS share) and the delisting proposal (S$0.181).</li>
<li>The revised offer addresses the issue around the previous offer’s unattractive distribution cash alternative and unfavourable FX. However, the revised offer remains light but is not declared final.  </li>
<li>The revised offer fails to address the issue concerning the decline in <a href="https://www.smartkarma.com/entities/golden-energy-mines-tbk-pt" target="_blank" data-smartkarma-citation="entities:16150:1" rel="noopener">Golden Energy Mines (GEMS IJ)</a> share price and the value of <a href="https://www.smartkarma.com/entities/stanmore-coal-ltd" target="_blank" data-smartkarma-citation="entities:15252:1" rel="noopener">Stanmore Coal (SMR AU)</a> stake.</li>
</ul>



Golden Energy &amp; Resources (GER SP)'s revised proposal from the Widjaja family - distribution proposal (1.3936 GEMS share per share or IDR6,500 per GEMS share) and the delisting proposal (S$0.181).
The revised offer addresses the issue around the previous offer’s unattractive distribution cash alternative and unfavourable FX. However, the revised offer remains light but is not declared final.  
The revised offer fails to address the issue concerning the decline in Golden Energy Mines (GEMS IJ) share price and the value of Stanmore Coal (SMR AU) stake.


Golden Energy (GER SP): Revised Offer Is Still Not Good Enough