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

Guotai Junan International (1788 HK): Precon Privatisation by Guotai Haitong Securities at HK$3.00

Weekly Deals Digest (09 Aug) - FleetPartners, Steadfast, GJTAI, Digital Hearts, JPMC, Shein, GCash

Merger Arb Mondays (10 Aug) - GJTAI, Con Aero, Get Nice, Cygnus, OOh!Media, Digital Hearts, JPMC

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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

Guotai Junan International / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guotai-junan-international-holdings-limited" target="_blank" data-smartkarma-citation="entities:13438:1" rel="noopener">Guotai Junan International (1788 HK)</a>/GJTAI is in a trading halt “<em>pending the issuance of an announcement pursuant to the Code on Takeovers and Mergers.</em>” </li>
<li>It is likely that <a href="https://www.smartkarma.com/entities/guotai-haitong-securities-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:23752:1" rel="noopener">Guotai Haitong Securities (2611 HK)</a> is seeking to privatise GJTAI. The timing would be opportunistic, as GJTAI has underperformed its peers over the last 12 months.</li>
<li>I use three methods to triangulate the likely offer price. My methods suggest a price range of HK$2.80 to HK$3.50 per share, a 34.6%-68.3% premium to the last close.</li>
</ul>



Guotai Junan International (1788 HK)/GJTAI is in a trading halt “pending the issuance of an announcement pursuant to the Code on Takeovers and Mergers.” 
It is likely that Guotai Haitong Securities (2611 HK) is seeking to privatise GJTAI. The timing would be opportunistic, as GJTAI has underperformed its peers over the last 12 months.
I use three methods to triangulate the likely offer price. My methods suggest a price range of HK$2.80 to HK$3.50 per share, a 34.6%-68.3% premium to the last close.


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China Industrial Securities International Financial

Guotai Junan International (1788 HK): Privatisation by Guotai Haitong Securities?