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

Merger Arb Mondays (30 Mar) - ENN, Skyworth, Nippon Sheet, Solasto, Gunma, MCJ, Sankei, Qoria

ENN Energy (2688 HK) Tactical Outlook: Downside Exhaustion Zone Reached, Position for LONG Reversion

ENN Natural Gas (600803) Tactical Outlook: Oversold - Ready to Bounce?

Gunma Bank (8334 JP): Daishi Hokuetsu (7327 JP) Share Exchange to Establish a Top Regional Bank

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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/gunma-bank-ltd" target="_blank" data-smartkarma-citation="entities:15777:1" rel="noopener">Gunma Bank (8334 JP)</a> announced a share exchange offer by DHFG at 1.125 DHFG shares per Gunma share, a 84.5% and 4.9% premium to the undisturbed and last close, respectively.</li>
<li>The share exchange will require the approval of Gunma and DHFG shareholders at the EGM on 23 December. The new integrated holding company will be called Gunma Niigata Financial Group. </li>
<li>The two votes should pass as the share exchange ratio is fair based on historical average price ratios and peer multiples. </li>
</ul>



Gunma Bank (8334 JP) announced a share exchange offer by DHFG at 1.125 DHFG shares per Gunma share, a 84.5% and 4.9% premium to the undisturbed and last close, respectively.
The share exchange will require the approval of Gunma and DHFG shareholders at the EGM on 23 December. The new integrated holding company will be called Gunma Niigata Financial Group. 
The two votes should pass as the share exchange ratio is fair based on historical average price ratios and peer multiples. 


Daishi Hokuetsu Financial Group (7327 JP)

Gunma Bank (8334 JP): Daishi Hokuetsu (7327 JP)’s Fair Share Exchange Ratio