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 (16 Mar) - Skyworth, ENN, BlueScope, Pepper, Humm, Makino, Sankei, MCJ, IJM

Merger Arb Mondays (27 Apr) - Makino, Skyworth, ENN, Changhong Jiahua, Qoria, Qube, Emmerson

Emmerson Resources (ERM AU): Scheme Vote on 15 June

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/emmerson-resources-ltd" target="_blank" data-smartkarma-citation="entities:18705:1" rel="noopener">Emmerson Resources (ERM AU)</a> has entered into a SID with <a href="https://www.smartkarma.com/entities/pan-african-resources-plc" target="_blank" data-smartkarma-citation="entities:23518:1" rel="noopener">Pan African Resources (PAF LN)</a> at 0.1493 PAF CDI shares per ERM share. The implied value is A$0.45.</li>
<li>The offer is reasonable as it consolidates 100% ownership of the Tennant Creek JV (75% Pan African/25% Emmerson) and is attractive compared to historical price ratios. </li>
<li>The key condition is ERM shareholder approval. The scheme vote is low risk as the substantial shareholders will be supportive due to irrevocables or high premiums to their in-cost.</li>
</ul>



Emmerson Resources (ERM AU) has entered into a SID with Pan African Resources (PAF LN) at 0.1493 PAF CDI shares per ERM share. The implied value is A$0.45.
The offer is reasonable as it consolidates 100% ownership of the Tennant Creek JV (75% Pan African/25% Emmerson) and is attractive compared to historical price ratios. 
The key condition is ERM shareholder approval. The scheme vote is low risk as the substantial shareholders will be supportive due to irrevocables or high premiums to their in-cost.


에머슨 리소시스(ERM AU): 판 아프리칸 리소시스의 전략적으로 타당한 인수 제안