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 (09 Oct) - Betagro, Link Admin, Tyro, MACA, Eagle Cement, O2Micro, SMG

Merger Arb Mondays (10 Oct) - Lifestyle, Yashili, Eagle Cement, O2Micro, DTAC/True, Nearmap, PTB

Merger Arb Mondays (17 Oct) - EVOC, Fengxiang, Lifestyle, Genex, Pendal, DTAC/True, Eagle Cement

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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>
<a href="https://www.smartkarma.com/entities/eagle-cement-corp" target="_blank" data-smartkarma-citation="entities:31217:1" rel="noopener">Eagle Cement Corp (EAGLE PM)</a>/ECC’s selling shareholders (88.50% of the outstanding shares) have signed a SPA to sell their stake to <a href="https://www.smartkarma.com/entities/san-miguel-corporation" target="_blank" data-smartkarma-citation="entities:22728:1" rel="noopener">San Miguel (SMC PM)</a> at PHP22.02 per share.</li>
<li>Post-Completion of the SPA, San Miguel will be required to launch a mandatory tender offer to acquire the remaining 11.50% minority shares at PHP22.02 per share. </li>
<li>As the regulator previously viewed San Miguel and ECC as part of the same group, regulatory approval should be forthcoming. At the last close, the gross spread is 14.1%.</li>
</ul>



Eagle Cement Corp (EAGLE PM)/ECC’s selling shareholders (88.50% of the outstanding shares) have signed a SPA to sell their stake to San Miguel (SMC PM) at PHP22.02 per share.
Post-Completion of the SPA, San Miguel will be required to launch a mandatory tender offer to acquire the remaining 11.50% minority shares at PHP22.02 per share. 
As the regulator previously viewed San Miguel and ECC as part of the same group, regulatory approval should be forthcoming. At the last close, the gross spread is 14.1%.


Eagle Cement’s Potential MTO of PHP22.02 from San Miguel