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

Peet (PPC AU): Risk/Reward as Ingenia’s Offer Hangs in the Balance

Ingenia (INA AU): Warburg’s Revised Offer Rejected, but the Gap to Fair Value Narrows

Ingenia (INA AU): Warburg’s Third Offer at A$5.25 Puts the Board on the Clock

Peet (PPC AU): Ingenia (INA AU)’s Cash-And-Scrip Scheme Offer

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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/ingenia-communities-group" target="_blank" data-smartkarma-citation="entities:5495:1" rel="noopener">Ingenia Communities (INA AU)</a> has rejected a non-binding proposal from Warburg Pincus at A$4.75, a 30.1% premium to the last close and a 11.0% premium to the undisturbed price.</li>
<li>The timing is opportunistic, and the offer is light as it implies no control premium and is below the 52-week high and sell-side price targets. </li>
<li>The proposal is conditional on abandoning the <a href="https://www.smartkarma.com/entities/peet-ltd" target="_blank" data-smartkarma-citation="entities:15586:1" rel="noopener">Peet Ltd (PPC AU)</a> offer, which is facilitated by a fiduciary-out clause. An offer around A$5.15 is needed to test the Board’s resolve.   </li>
</ul>



Ingenia Communities (INA AU) has rejected a non-binding proposal from Warburg Pincus at A$4.75, a 30.1% premium to the last close and a 11.0% premium to the undisturbed price.
The timing is opportunistic, and the offer is light as it implies no control premium and is below the 52-week high and sell-side price targets. 
The proposal is conditional on abandoning the Peet Ltd (PPC AU) offer, which is facilitated by a fiduciary-out clause. An offer around A$5.15 is needed to test the Board’s resolve.   


Ingenia (INA AU): Warburg’s NBIO Was Rightly Rejected, but This Is Not Done Yet