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

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

Capitaland Integrated Commercial Trust / Event-Driven

Capitaland Integrated Commercial Trust (CICT SP)

<p><a href="https://www.smartkarma.com/entities/capitaland-mall-trust" target="_blank" data-smartkarma-citation="entities:105:1" rel="noopener">Capitaland Mall Trust (CT SP)</a>/CMT announced the proposed merger with <a href="https://www.smartkarma.com/entities/capitaland-commercial-trust" target="_blank" data-smartkarma-citation="entities:1077:1" rel="noopener">Capitaland Commercial Trust (CCT SP)</a>/CCT which will be carried out by way of a trust scheme of arrangement. Under the scheme consideration, one unitholder of CCT will receive S$0.2590 in cash and 0.720 new CMT units at an issue price of S$2.59 per CMT unit (88% of deal financed by units). The total consideration to be paid equals S$2.1238 per unit. </p><div class="content-highlight"><p>Overall, we believe that CMT’s proposed merger offer for CCT is fair. As there is room for upside from a larger diversified asset base, cost savings and inorganic growth, we believe that the merger is good for both sets of unitholders.</p></div>

Capitaland Mall Trust (CT SP)/CMT announced the proposed merger with Capitaland Commercial Trust (CCT SP)/CCT which will be carried out by way of a trust scheme of arrangement. Under the scheme consideration, one unitholder of CCT will receive S$0.2590 in cash and 0.720 new CMT units at an issue price of S$2.59 per CMT unit (88% of deal financed by units). The total consideration to be paid equals S$2.1238 per unit. Overall, we believe that CMT’s proposed merger offer for CCT is fair. As there is room for upside from a larger diversified asset base, cost savings and inorganic growth, we believe that the merger is good for both sets of unitholders.

CMT/CCT Merger (CapitaLand Integrated Commercial Trust): Big Is Back