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 href="https://www.smartkarma.com/entities/crown-resorts-ltd" target="_blank" data-smartkarma-citation="entities:808:1" rel="noopener">Crown Resorts (CWN AU)</a> has entered a scheme implementation deed with <a href="https://www.smartkarma.com/entities/blackstone-group-inc" target="_blank" data-smartkarma-citation="entities:27166:1" rel="noopener">Blackstone Group (BX US)</a> at A$13.10 cash per share, a 32.3% premium to the unaffected price of A$9.90.</li>
<li>The key conditions precedent is Crown shareholder, gaming regulatory and FIRB approval. The scheme meeting is targeted to be held before the end of June 2022.   </li>
<li>The offer price is attractive and the largest shareholder will be supportive. At last close, the gross and annualised spread is 3.6% and 10.0%, respectively, to a June scheme meeting.   </li>
</ul>



Crown Resorts (CWN AU) has entered a scheme implementation deed with Blackstone Group (BX US) at A$13.10 cash per share, a 32.3% premium to the unaffected price of A$9.90.
The key conditions precedent is Crown shareholder, gaming regulatory and FIRB approval. The scheme meeting is targeted to be held before the end of June 2022.   
The offer price is attractive and the largest shareholder will be supportive. At last close, the gross and annualised spread is 3.6% and 10.0%, respectively, to a June scheme meeting.   


Crown Resorts Enters a SID with Blackstone

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

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Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

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Hong Kong

Melco Resorts & Entertainment Limited develops, owns, and operates casinos. The Company offers casino gaming, restaurants, bars, and resorts facilities. Melco Resorts & Entertainment serves customers in Asia.

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Melco Resorts & Entertainment (MLCO US)

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