IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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

<a href="https://www.smartkarma.com/entities/united-envirotech-ltd" target="_blank" data-smartkarma-citation="entities:36:1" rel="noopener">Citic Envirotech (CEL SP)</a> is a leading membrane-based integrated environmental solutions provider specialising in water and wastewater treatment, water supply and recycling. Last night, CKM announced a pre-conditional privatisation offer at S$0.55 per share. <div class="content-highlight">At first glance, the offer price which represents a 69% and 66% premium to the 3-month and 6-month VWAP respectively, seems attractive. Overall, our valuation analysis suggests that CKM’s offer while not a knockout bid, is worth a look for investors not willing to wait around for recovery and seeking a reasonable exit. </div>

Citic Envirotech (CEL SP) is a leading membrane-based integrated environmental solutions provider specialising in water and wastewater treatment, water supply and recycling. Last night, CKM announced a pre-conditional privatisation offer at S$0.55 per share. At first glance, the offer price which represents a 69% and 66% premium to the 3-month and 6-month VWAP respectively, seems attractive. Overall, our valuation analysis suggests that CKM’s offer while not a knockout bid, is worth a look for investors not willing to wait around for recovery and seeking a reasonable exit. 

CITIC Envirotech Privatisation Offer’s Targeted Appeal

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. One bright spot is EM (more on this below), which continues to give us hope that global equities can bottom out.  We provide a technical appraisal of major markets and highlight actionable setups within the global Utilities and Staples Sectors.

Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. One bright spot is EM (more on this below), which continues to give us hope that global equities can bottom out.  We provide a technical appraisal of major markets and highlight actionable setups within the global Utilities and Staples Sectors.

Global Ex-U.S. Equity Strategy: MSCI EM in Early Stages of Bottoming

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Our outlook for global equities remains extremely cautious and we expect downward consolidation to continue. Equity prices will need to show signs of bottoming in order for this outlook to change.  In our December International Strategy, we explore various themes which lead to our cautious outlook, provide a technical appraisal of major world markets, explore a possible bottom in the Chinese market, and highlight attractive setups in the Consumer Staples, Communications, Health Care, and Utilities Sectors.

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Our outlook for global equities remains extremely cautious and we expect downward consolidation to continue. Equity prices will need to show signs of bottoming in order for this outlook to change.  In our December International Strategy, we explore various themes which lead to our cautious outlook, provide a technical appraisal of major world markets, explore a possible bottom in the Chinese market, and highlight attractive setups in the Consumer Staples, Communications, Health Care, and Utilities Sectors.

Global Equity Strategy: Cautious Outlook Intact; Defensive Sectors Remain Leadership

Guangdong Investment / Technical Analysis

Broadly speaking, global equities (MSCI ACWI, ACWI ex-U.S., EAFE) remain unattractive from a price perspective as breakdowns and downtrends abound. The defensive Utilities Sector has been a primary beneficiary of global equity market weakness. Today we direct your attention to three stocks with the best setups in the Sector: Guangdong Investment Limited (270-HK), Orsted (ORSTED-DK), and Electricite de France SA (EDF-FR). All three have pulled back to logical support and should be bought at current levels. Add exposure.

Broadly speaking, global equities (MSCI ACWI, ACWI ex-U.S., EAFE) remain unattractive from a price perspective as breakdowns and downtrends abound. The defensive Utilities Sector has been a primary beneficiary of global equity market weakness. Today we direct your attention to three stocks with the best setups in the Sector: Guangdong Investment Limited (270-HK), Orsted (ORSTED-DK), and Electricite de France SA (EDF-FR). All three have pulled back to logical support and should be bought at current levels. Add exposure.

Opportunities Within the Global Utilities Sector

Our outlook for global equity markets remains cautious and we expect additional weakness and consolidation, notwithstanding shorter-term countertrend rallies. In today’s report we provide a technical appraisal of major markets and highlight still attractive opportunities within: RETS, utilities and Health care.

Our outlook for global equity markets remains cautious and we expect additional weakness and consolidation, notwithstanding shorter-term countertrend rallies. In today’s report we provide a technical appraisal of major markets and highlight still attractive opportunities within: RETS, utilities and Health care.

Global Markets Outlook: Maintain Defensive Posture

Hong Kong

Guangdong Investment Limited, through its subsidiaries, operates water supply, power and electricity, and infrastructure businesses.  The Company also invests in and develops real estate properties, operates department stores, and provides financial services.

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Guangdong Investment (270 HK)

CITIC Envirotech Privatisation Offer’s Targeted Appeal

Citic Envirotech (CEL SP) is a leading membrane-based integrated environmental solutions provider specialising in water and wastewater treatment,...

Arun George

Global Ex-U.S. Equity Strategy: MSCI EM in Early Stages of Bottoming

Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. One bright spot is EM (more...

Vermilion Research

Global Equity Strategy: Cautious Outlook Intact; Defensive Sectors Remain Leadership

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Our outlook for global equities...

Vermilion Research

Opportunities Within the Global Utilities Sector

Broadly speaking, global equities (MSCI ACWI, ACWI ex-U.S., EAFE) remain unattractive from a price perspective as breakdowns and downtrends abound....

Vermilion Research

Global Markets Outlook: Maintain Defensive Posture

Our outlook for global equity markets remains cautious and we expect additional weakness and consolidation, notwithstanding shorter-term...

Vermilion Research

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