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

CITIC Envirotech: Thoughts on the IFA Report

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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

<p><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. </p><div class="content-highlight"><p>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. </p></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