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 (27 Nov) - Origin, OreCorp, Healius, Taisho, JSR, Eoflow, Hollysys, Haitong Intl

Hollysys (HOLI US): Progress as a Binding Proposal Targeted for Mid-December

Hollysys (HOLI US): Questionable Process Results in Ascendent’s Winning US$26.50 Bid

Hollysys (HOLI US): Board Starts a Formal Sale Process

Hollysys (HOLI US): MBO Proposal and Updates

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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

Hollysys Automation Technologies / Event-Driven

Hollysys Automation Technologies (HOLI US)

<ul>
<li>Ascendent Capital has made a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&amp;ref=317844343&amp;type=PDF&amp;symbol=HOLI&amp;cdn=eb09d796c5e38b2cb3fcc4b11a699c1a&amp;companyName=Hollysys+Automation+Technologies+Ltd.&amp;formType=SC+13D&amp;dateFiled=2023-11-06" target="_blank" rel="noopener">non-binding proposal</a> for <a href="https://www.smartkarma.com/entities/hollysys-automation-technologies" target="_blank" data-smartkarma-citation="entities:26078:1" rel="noopener">Hollysys Automation Technologies (HOLI US)</a> at US$26.00 per share, a 4.0% premium to the MBO and Recco proposal of US$25.00 per share. </li>
<li>Ascendent has also become the largest shareholder by securing 13.69% of outstanding shares at an average price of A$20.84 per share. Ascendant is supportive of the special meeting request.</li>
<li>The Board has tried several delaying tactics, but the emergence of Ascendant ramps up the pressure on the Board to conduct a transparent sale process and address shareholder concerns. </li>
</ul>


Ascendent Capital has made a non-binding proposal for Hollysys Automation Technologies (HOLI US) at US$26.00 per share, a 4.0% premium to the MBO and Recco proposal of US$25.00 per share. 
Ascendent has also become the largest shareholder by securing 13.69% of outstanding shares at an average price of A$20.84 per share. Ascendant is supportive of the special meeting request.
The Board has tried several delaying tactics, but the emergence of Ascendant ramps up the pressure on the Board to conduct a transparent sale process and address shareholder concerns. 


China Railway Signal & Communication (3969 HK)

Hollysys (HOLI US): Ascendent Capital Joins the Fray