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

Weekly Deals Digest (25 Feb) - Azure, A2B, Boral, CSR, China TCM, Outsourcing, Payroll, Snow Peak

Merger Arb Mondays (26 Feb) - China TCM, Azure, A2B, Boral, CSR, Outsourcing, Snow Peak, Genetron

Azure Minerals (AZS AU): Scheme Vote on 8 April

Azure Minerals (AZS AU): SQM’s Rinehart-Proof Offer

Azure Minerals (AZS AU): SQM/Hancock Team up for a New Offer

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>The <a href="https://www.afr.com/street-talk/minres-selling-14-5pc-of-azure-minerals-jpm-nabs-trade-20240221-p5f6ta" target="_blank" rel="noopener">AFR reports</a> that JPMorgan is selling 14.5% of <a href="https://www.smartkarma.com/entities/azure-minerals-ltd" target="_blank" data-smartkarma-citation="entities:16538:1" rel="noopener">Azure Minerals (AZS AU)</a> shares at A$3.42. The primary seller is said to be <a href="https://www.smartkarma.com/entities/mineral-resources-ltd" target="_blank" data-smartkarma-citation="entities:15103:1" rel="noopener">Mineral Resources (MIN AU)</a>, seeking to exit.</li>
<li>MinRes' decision to sell out a discount rather than accept the scheme A$3.70 offer reflects the cost of securing a say on Andover and the opportunity cost of capital. </li>
<li>The transaction booklet will be despatched in early March. At the last close and for an early May scheme payment, the gross/annualised spread is 2.5%/13.4%. </li>
</ul>


The AFR reports that JPMorgan is selling 14.5% of Azure Minerals (AZS AU) shares at A$3.42. The primary seller is said to be Mineral Resources (MIN AU), seeking to exit.
MinRes' decision to sell out a discount rather than accept the scheme A$3.70 offer reflects the cost of securing a say on Andover and the opportunity cost of capital. 
The transaction booklet will be despatched in early March. At the last close and for an early May scheme payment, the gross/annualised spread is 2.5%/13.4%. 


Sociedad Quimica y Minera de Chile (SQM US)

Azure Minerals (AZS AU): MinRes Selling Out Paves the Way for the Scheme