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

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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.

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a> is the largest packaging paper producer and largest corrugated container producer in Southeast Asia, according to Frost &amp; Sullivan. SCGP’s parent company is <a href="https://www.smartkarma.com/entities/siam-cement-pcl-the" target="_blank" data-smartkarma-citation="entities:2589:1" rel="noopener">Siam Cement (SCC TB)</a>, which is a 99.04% shareholder. Following the SEC’s filing approval on 29 May, SCGP is in the process of engaging with potential cornerstone investors to raise $1.5 billion (50% more than the original target) in an October IPO, according to Reuters.   </p><div class="content-highlight"><p>SCGP notes that the business has a long track record of growth spanning 20 years. SCGP opines that post-IPO, the growth should continue due to the combination of the ongoing shift to packaging solutions and the capital support to pursue growth initiatives. Unsurprisingly, the 1H20 was impacted by the COVID-19 outbreak but the situation in the key markets of Thailand, Vietnam and Malaysia is improving. Overall, we think that SCGP’s fundamentals offer more positives than negatives. </p></div>

SCG Packaging (SCGP TB) is the largest packaging paper producer and largest corrugated container producer in Southeast Asia, according to Frost &amp; Sullivan. SCGP’s parent company is Siam Cement (SCC TB), which is a 99.04% shareholder. Following the SEC’s filing approval on 29 May, SCGP is in the process of engaging with potential cornerstone investors to raise $1.5 billion (50% more than the original target) in an October IPO, according to Reuters.   SCGP notes that the business has a long track record of growth spanning 20 years. SCGP opines that post-IPO, the growth should continue due to the combination of the ongoing shift to packaging solutions and the capital support to pursue growth initiatives. Unsurprisingly, the 1H20 was impacted by the COVID-19 outbreak but the situation in the key markets of Thailand, Vietnam and Malaysia is improving. Overall, we think that SCGP’s fundamentals offer more positives than negatives. 

SCG Packaging IPO Initiation: Shrink Wrapping