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

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

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

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

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

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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/peet-ltd" target="_blank" data-smartkarma-citation="entities:15586:1" rel="noopener">Peet Ltd (PPC AU)</a>’s scheme with <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> hangs in the balance. Warburg’s A$5.25 “<em>best and final</em>” offer for Ingenia requires it to drop Peet by 19 October.</li>
<li>The outcome hinges on Ingenia’s Board. Unhappy investors and a cheap A$10m break fee favour Warburg, while the Board’s public defence of Peet and Warburg’s demanding conditions cut against.</li>
<li>At A$1.63, Peet offers an attractive risk/reward: 10–25% upside if the scheme completes versus about 8% central downside (4–13% range) if it breaks, a roughly 2:1 to 3:1 skew.</li>
</ul>



Peet Ltd (PPC AU)’s scheme with Ingenia Communities (INA AU) hangs in the balance. Warburg’s A$5.25 “best and final” offer for Ingenia requires it to drop Peet by 19 October.
The outcome hinges on Ingenia’s Board. Unhappy investors and a cheap A$10m break fee favour Warburg, while the Board’s public defence of Peet and Warburg’s demanding conditions cut against.
At A$1.63, Peet offers an attractive risk/reward: 10–25% upside if the scheme completes versus about 8% central downside (4–13% range) if it breaks, a roughly 2:1 to 3:1 skew.


Peet (PPC AU): Skewed Risk/Reward as Ingenia Weighs Warburg’s Final Offer