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 (27 Oct) - Shinko, Fuji Soft, CPMC, Boqi, Xingda, Auswide, Dyna-Mac, Tokyo Metro

HK Merger Arb: Evaluating the Post China TCM Widening Spreads

CPMC Holdings (906 HK): A Carefully Caveated Board Recommendation of Changping Industrial’s Offer

CPMC Holdings (906 HK): Poker Face off as Changping Industrial Launches Offer at Unchanged Terms

CPMC Holdings (906 HK): The Battle Is Heating up as ORG Clears a Key Regulatory Hurdle

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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

<ul>
<li>The monthly update notes further progress made by <a href="https://www.smartkarma.com/entities/org-technology-co-ltd-a" target="_blank" data-smartkarma-citation="entities:17510:1" rel="noopener">ORG Technology Co., Ltd. A (002701 CH)</a> in satisfying the precondition for its HK$7.21 voluntary offer for <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC Holdings (906 HK)</a>. </li>
<li>The remaining preconditions (ORG shareholder and NDRC/SAFE approval) are low-risk. Including irrevocable, ORG represents 46.45% of outstanding shares within reach of the 50% minimum acceptance condition. </li>
<li>The two event risks (irrevocable termination date, precondition long stop date) should not derail the deal. At the last close, the gross spread was 4.9%. </li>
</ul>


The monthly update notes further progress made by ORG Technology Co., Ltd. A (002701 CH) in satisfying the precondition for its HK$7.21 voluntary offer for CPMC Holdings (906 HK). 
The remaining preconditions (ORG shareholder and NDRC/SAFE approval) are low-risk. Including irrevocable, ORG represents 46.45% of outstanding shares within reach of the 50% minimum acceptance condition. 
The two event risks (irrevocable termination date, precondition long stop date) should not derail the deal. At the last close, the gross spread was 4.9%. 


Shanghai Baosteel Packaging-A (601968 CH)

Jiamei Food Packaging Chuzhou (002969 CH)

CPMC Holdings (906 HK): ORG Inching Towards the Launch of the Offer