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

Merger Arb Mondays (12 Oct) - Skyworth, Z Fin, OFX, Ingenia/Peet, Cleanaway, Reliance, Kakaku

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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

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<li>Mr Liu Jichun’s preconditional VGO for <a href="https://www.smartkarma.com/entities/xin-yuan-enterprises-group-ltd" target="_blank" data-smartkarma-citation="entities:40062:1" rel="noopener">Xin Yuan Enterprises (1748 HK)</a> is HK$2.21, a 25.6% premium to the last pre-suspension price. There is a 50% minimum acceptance condition.</li>
<li>The resumption pre-condition looks achievable. The forensic report largely cleared the company of financial issues, and Xin Yuan says it has met all the conditions for resumption.</li>
<li>Acceptance is on a knife-edge: the offeror reaches just 50.01% if all EGM supporters accept. The outcome turns on Danube Bridge's 15m shares and Chen Maochun's legal challenges.</li>
</ul>


Mr Liu Jichun’s preconditional VGO for Xin Yuan Enterprises (1748 HK) is HK$2.21, a 25.6% premium to the last pre-suspension price. There is a 50% minimum acceptance condition.
The resumption pre-condition looks achievable. The forensic report largely cleared the company of financial issues, and Xin Yuan says it has met all the conditions for resumption.
Acceptance is on a knife-edge: the offeror reaches just 50.01% if all EGM supporters accept. The outcome turns on Danube Bridge's 15m shares and Chen Maochun's legal challenges.


COSCO SHIPPING Energy Transportation (1138 HK)

COSCO SHIPPING Energy Transpor (600026 CH)

Xin Yuan (1748 HK): Resumption Likely, Min Acceptance Condition a Coin Toss for Liu's HK$2.21 VGO