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

Weekly Deals Digest (10 Aug) - Shibaura, Toyo Construction, Technopro, Ashimori, HKBN, Iress

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Event-Driven

<ul>
<li>The <a href="https://www.afr.com/companies/financial-services/blackstone-in-talks-with-iress-for-buyout-at-more-than-1-9b-20250807-p5ml4a" target="_blank" rel="noopener">AFR reports</a> that <a href="https://www.smartkarma.com/entities/blackstone-inc" target="_blank" data-smartkarma-citation="entities:27166:1" rel="noopener">Blackstone (BX US)</a> is considering a privatisation bid which could value <a href="https://www.smartkarma.com/entities/iress-ltd" target="_blank" data-smartkarma-citation="entities:15342:1" rel="noopener">Iress Ltd (IRE AU)</a> at about A$1.9 billion (more than A$10 per share).</li>
<li>Iress is no stranger to privatisation interest. In 2021, <a href="https://www.smartkarma.com/entities/eqt-ab" target="_blank" data-smartkarma-citation="entities:28922:1" rel="noopener">EQT (EQT SS)</a> bid against itself thrice to offer A$15.91, before failing to table a binding proposal.   </li>
<li>The shareholder structure facilitates an offer. The rumoured offer is a good starting point, but it is far from a knockout bid.</li>
</ul>


The AFR reports that Blackstone (BX US) is considering a privatisation bid which could value Iress Ltd (IRE AU) at about A$1.9 billion (more than A$10 per share).
Iress is no stranger to privatisation interest. In 2021, EQT (EQT SS) bid against itself thrice to offer A$15.91, before failing to table a binding proposal.   
The shareholder structure facilitates an offer. The rumoured offer is a good starting point, but it is far from a knockout bid.


Iress (IRE AU): Blackstone Mulling a Privatisation Bid