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

FINEOS IPO Initiation: Claiming the Cloud

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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.

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/fineos" target="_blank" data-smartkarma-citation="entities:28218:1" rel="noopener">FINEOS (FCL AU)</a> is a leading vendor of core software to the life, accident &amp; health (LA&amp;H) insurance industry. FINEOS will commence trading on the ASX on 16 August on a deferred settlement basis. </p><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/fineos-ipo-initiation-claiming-the-cloud" target="_blank" rel="noopener">our initiation note</a>, we stated that FINEOS’ fundamentals are solid, but investors looking for operational leverage and lower cash burn will require patience. On balance, FINEOS’ fundamentals have the right ingredients to make for a compelling equity story. However, from a valuation perspective, we believe that the IPO is fully priced and would use any post-IPO weakness to build a position. </p></div>

FINEOS (FCL AU) is a leading vendor of core software to the life, accident &amp; health (LA&amp;H) insurance industry. FINEOS will commence trading on the ASX on 16 August on a deferred settlement basis. In our initiation note, we stated that FINEOS’ fundamentals are solid, but investors looking for operational leverage and lower cash burn will require patience. On balance, FINEOS’ fundamentals have the right ingredients to make for a compelling equity story. However, from a valuation perspective, we believe that the IPO is fully priced and would use any post-IPO weakness to build a position. 

FINEOS IPO: Full Valuation Entails Patience