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

Uncompromised, Independent, Conflict-Free Research

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.

Equity Capital Markets

KWG Living Group / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/kwg-living-group" target="_blank" data-smartkarma-citation="entities:29231:1" rel="noopener">KWG Living Group (3913 HK)</a> is a property management service provider in China. KWG accounted for 0.09% of the total GFA under management in the China property management market in 2019, according to JLL. <a href="https://www.smartkarma.com/entities/kwg-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:12601:1" rel="noopener">Kwg Property Holding (1813 HK)</a>, the parent, has launched the spin-off and Hong Kong IPO of KWG to raise up to $400 million. </p><div class="content-highlight"><p>KWG offers not only property management service for both residential and commercial properties, but also commercial operational service. The commercial property management and operational service are still at the early development stage with fewer participants, compared with residential property management, which presents more headroom for KWG to expand. Also, KWG has a strong presence in the Greater Bay Area and ranked tenth among the leading property management companies in the Greater Bay Area, according to the CIA. Overall, KWG’s fundamentals over the track record period are attractive, in our view.</p></div>

KWG Living Group (3913 HK) is a property management service provider in China. KWG accounted for 0.09% of the total GFA under management in the China property management market in 2019, according to JLL. Kwg Property Holding (1813 HK), the parent, has launched the spin-off and Hong Kong IPO of KWG to raise up to $400 million. KWG offers not only property management service for both residential and commercial properties, but also commercial operational service. The commercial property management and operational service are still at the early development stage with fewer participants, compared with residential property management, which presents more headroom for KWG to expand. Also, KWG has a strong presence in the Greater Bay Area and ranked tenth among the leading property management companies in the Greater Bay Area, according to the CIA. Overall, KWG’s fundamentals over the track record period are attractive, in our view.

Powerlong Commercial Management Holdings (9909 HK)

Shimao Services Holdings Limited (873 HK)

Excellence Commercial Property & Facilities Management (6989 HK)

Excellence Commercial Property & Facilities Management

KWG Living Group IPO Initiation: Urban Living