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

Yinson (YNS MK): MISC Steps up as Co-Offeror, but RM2.35 Still Looks Light

Merger Arb Mondays (28 Sep) - Kakaku, Sankei RE, Kadoya, Leopalace, Goodbaby, Z Fin, Yinson, Peet

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Event-Driven

<ul>
<li>Bloomberg <a href="https://theedgemalaysia.com/node/797069" target="_blank" rel="noopener">reported</a> that the Lin Family, in partnership with Stonepeak Partners and some local pension funds, are nearing an agreement to privatise <a href="https://www.smartkarma.com/entities/yinson-holdings-bhd" target="_blank" data-smartkarma-citation="entities:3252:1" rel="noopener">Yinson Holdings (YNS MK)</a> through a scheme. </li>
<li>The deal could value Yinson at about RM8 billion or RM2.75 per share. The key scheme conditions are the headcount test and a &lt;10% rejection rate among all disinterested shareholders. </li>
<li>The inclusion of local pension funds in the BidCo will be crucial to deal completion, as the rumoured offer is unattractive compared to peers' multiples and analyst price targets.</li>
</ul>


Bloomberg reported that the Lin Family, in partnership with Stonepeak Partners and some local pension funds, are nearing an agreement to privatise Yinson Holdings (YNS MK) through a scheme. 
The deal could value Yinson at about RM8 billion or RM2.75 per share. The key scheme conditions are the headcount test and a &lt;10% rejection rate among all disinterested shareholders. 
The inclusion of local pension funds in the BidCo will be crucial to deal completion, as the rumoured offer is unattractive compared to peers' multiples and analyst price targets.


Yinson (YNS MK): An Impending Scheme Privatisation?