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

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments - <a href="https://www.smartkarma.com/entities/zhejiang-leapmotor-technology" target="_blank" data-smartkarma-citation="entities:35968:1" rel="noopener">Leapmotor (9863 HK)</a> and <a href="https://www.smartkarma.com/entities/onewo-space-tech" target="_blank" data-smartkarma-citation="entities:36204:1" rel="noopener">Onetwo (2602 HK)</a> poor debuts. <a href="https://www.smartkarma.com/entities/calb-co-ltd" target="_blank" data-smartkarma-citation="entities:35985:1" rel="noopener">CALB (3931 HK)</a> prices at the low-end.</li>
<li>Event-Driven developments - <a href="https://www.smartkarma.com/entities/sats-ltd" target="_blank" data-smartkarma-citation="entities:19962:1" rel="noopener">SATS (SATS SP)</a>, <a href="https://www.smartkarma.com/entities/jinke-smart-services-group-co" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a>, <a href="https://www.smartkarma.com/entities/evoc-intelligent-technology-company-limited-h" target="_blank" data-smartkarma-citation="entities:2015:1" rel="noopener">EVOC Intelligent Technology Company Limited H (2308 HK)</a>, <a href="https://www.smartkarma.com/entities/tassal-group-ltd" target="_blank" data-smartkarma-citation="entities:16234:1" rel="noopener">Tassal (TGR AU)</a>, <a href="https://www.smartkarma.com/entities/maca-ltd" target="_blank" data-smartkarma-citation="entities:11390:1" rel="noopener">MACA Ltd (MLD AU)</a>, <a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a>. </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments - Leapmotor (9863 HK) and Onetwo (2602 HK) poor debuts. CALB (3931 HK) prices at the low-end.
Event-Driven developments - SATS (SATS SP), Jinke Smart Services (9666 HK), EVOC Intelligent Technology Company Limited H (2308 HK), Tassal (TGR AU), MACA Ltd (MLD AU), Nearmap Ltd (NEA AU). 


Weekly Deals Digest (02 Oct) - SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Growatt, CALB

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow over the past week was ~US$1.1bn, split between Shanghai (+US$0.76bn) and Shenzhen (+US$0.31bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a> and Wuliangye (000858 SZ). The largest outflows were in <a href="https://www.smartkarma.com/entities/china-merchants-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:714:1" rel="noopener">China Merchants Bank A (600036 CH)</a> and <a href="https://www.smartkarma.com/entities/sungrow-power-supply-co-ltd" target="_blank" data-smartkarma-citation="entities:4255:1" rel="noopener">Sungrow Power Supply (300274 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow over the past week was ~US$1.1bn, split between Shanghai (+US$0.76bn) and Shenzhen (+US$0.31bn).
The largest inflows were into Kweichow Moutai (600519 CH) and Wuliangye (000858 SZ). The largest outflows were in China Merchants Bank A (600036 CH) and Sungrow Power Supply (300274 CH).


Shanghai/​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (30 September 2022)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jinke-smart-services-group-co" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a> announced a voluntary conditional general offer from Boyu Capital at HK$12.00 per share, a 33.0% premium to the undisturbed price.</li>
<li>The offer is conditional on 7.71% valid acceptances (such that Boyu represents 30.40% of outstanding shares) and anti-trust approval. The conditions can be waived.  </li>
<li>The offer is designed to flush out minorities unwilling to wait for the industry headwinds to dissipate. A low threshold suggests that the offer will be declared unconditional.</li>
</ul>



Jinke Smart Services (9666 HK) announced a voluntary conditional general offer from Boyu Capital at HK$12.00 per share, a 33.0% premium to the undisturbed price.
The offer is conditional on 7.71% valid acceptances (such that Boyu represents 30.40% of outstanding shares) and anti-trust approval. The conditions can be waived.  
The offer is designed to flush out minorities unwilling to wait for the industry headwinds to dissipate. A low threshold suggests that the offer will be declared unconditional.


Jinke Smart’s VGO of HK$12.00 from Boyu Capital

<ul>
<li>PRC-Incorporated property management play <a href="https://www.smartkarma.com/entities/jinke-smart-services-group-co" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a> has announced a voluntary cash offer at HK$12/share, a 33.04% premium to last close.</li>
<li>The Offeror (Boyu) and concert parties collectively hold more than 50%. The Offer is contingent on regulatory approvals and 7.71% of shares out tendering. The tendering condition can be waived.</li>
<li>The Offer appears geared to bring Boyu's stake in line with <a href="https://www.smartkarma.com/entities/jinke-property-group-co-ltd" target="_blank" data-smartkarma-citation="entities:13291:1" rel="noopener">Jinke Property Group (000656 CH)</a>'s. </li>
</ul>


PRC-Incorporated property management play Jinke Smart Services (9666 HK) has announced a voluntary cash offer at HK$12/share, a 33.04% premium to last close.
The Offeror (Boyu) and concert parties collectively hold more than 50%. The Offer is contingent on regulatory approvals and 7.71% of shares out tendering. The tendering condition can be waived.
The Offer appears geared to bring Boyu's stake in line with Jinke Property Group (000656 CH)'s. 


Jinke Smart (9666 HK)’s Low-Balled But Virtually Unconditional Offer

Yunnan Energy New Material  / Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net outflow over the past week was ~US$1.83bn, split between Shanghai (-US$1.3bn) and Shenzhen (-US$0.5bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/yunnan-chuangxin-new-material" target="_blank" data-smartkarma-citation="entities:27135:1" rel="noopener">Yunnan Chuangxin New (002812 CH)</a> and <a href="https://www.smartkarma.com/entities/shanghai-baosight-software-co" target="_blank" data-smartkarma-citation="entities:28228:1" rel="noopener">Shanghai Baosight (600845 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/sungrow-power-supply-co-ltd" target="_blank" data-smartkarma-citation="entities:4255:1" rel="noopener">Sungrow Power (300274 CH)</a> and <a href="https://www.smartkarma.com/entities/ping-an-bank-co-ltd-a" target="_blank" data-smartkarma-citation="entities:681:1" rel="noopener">Ping An Bank (000001 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net outflow over the past week was ~US$1.83bn, split between Shanghai (-US$1.3bn) and Shenzhen (-US$0.5bn).
The largest inflows were into Yunnan Chuangxin New (002812 CH) and Shanghai Baosight (600845 CH). The largest outflows were in Sungrow Power (300274 CH) and Ping An Bank (000001 CH).


Shanghai/​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (22 July 2022)

China

Jinke Properties Group Company Ltd. develops and manages property.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
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Jinke Property Group (000656 CH)

Weekly Deals Digest (02 Oct) - SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Growatt, CALB

Last week, notable developments occurred in Event-Driven (SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Nearmap, Ramsay, Infomedia) and ECM...

Arun George

Shanghai/Shenzhen Northbound Connect: Weekly Moves (30 September 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$1.1bn, split between Shanghai...

David Blennerhassett

Jinke Smart’s VGO of HK$12.00 from Boyu Capital

The offer is designed to flush out minorities unwilling to wait for the industry headwinds to dissipate. A low threshold suggests that the offer...

Arun George

Jinke Smart (9666 HK)’s Low-Balled But Virtually Unconditional Offer

Surprisingly strong risk appetite from investors with shares trading at a gross spread to terms of 3.4%. I wouldn't chase it here, but would buy on...

David Blennerhassett

Shanghai/Shenzhen Northbound Connect: Weekly Moves (22 July 2022)

Overall, net outflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$1.83bn, split between Shanghai (...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Weekly Deals Digest (02 Oct) - SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Growatt, CALB

Last week, notable developments occurred in Event-Driven (SATS, Jinke Smart, EVOC, Fengxiang, Tassal, MACA, Nearmap, Ramsay, Infomedia) and ECM...

Arun George

Shanghai/​​​​​​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (30 September 2022)

Overall, net inflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$1.1bn, split between Shanghai...

David Blennerhassett

Jinke Smart’s VGO of HK$12.00 from Boyu Capital

The offer is designed to flush out minorities unwilling to wait for the industry headwinds to dissipate. A low threshold suggests that the offer...

Arun George

Jinke Smart (9666 HK)’s Low-Balled But Virtually Unconditional Offer

Surprisingly strong risk appetite from investors with shares trading at a gross spread to terms of 3.4%. I wouldn't chase it here, but would buy on...

David Blennerhassett

Shanghai/​​​​​​​​​Shenzhen Northbound Connect: Weekly Moves (22 July 2022)

Overall, net outflow over the past week in the HK -Shanghai-Shenzhen Northbound Connect facilities was ~US$1.83bn, split between Shanghai (...

David Blennerhassett

Shanghai/Shenzhen Northbound Connect: Weekly Moves (30 September 2022)

Shanghai/Shenzhen Northbound Connect: Weekly Moves (22 July 2022)