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

China Merchants Commercial REIT IPO: Valuation AllREIT at the Low-End

China Merchants Commercial REIT IPO Initiation: The REIT Idea?

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

Frasers Logistics & Commercial Trust / Event-Driven

Frasers Logistics & Commercial Trust (FLT SP)

<p><a href="https://www.smartkarma.com/entities/frasers-logistics-industrial" target="_blank" data-smartkarma-citation="entities:22748:1" rel="noopener">Frasers Logistics &amp; Industrial (FLT SP)</a> announced the proposed merger with <a href="https://www.smartkarma.com/entities/frasers-commercial-trust" target="_blank" data-smartkarma-citation="entities:13879:1" rel="noopener">Frasers Commercial Trust (FCOT SP)</a> along with the acquisition of the remaining 50% interest in Farnborough Business Park. Under the scheme consideration, one unitholder of FCOT will receive S$0.151 in cash and 1.233 new FLT units at an issue price of S$1.240 per FLT unit. The total consideration to be paid equals S$1.680 per unit. </p><div class="content-highlight"><p>Overall, we believe that FLT’s proposed merger offer for FCOT 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>

Frasers Logistics &amp; Industrial (FLT SP) announced the proposed merger with Frasers Commercial Trust (FCOT SP) along with the acquisition of the remaining 50% interest in Farnborough Business Park. Under the scheme consideration, one unitholder of FCOT will receive S$0.151 in cash and 1.233 new FLT units at an issue price of S$1.240 per FLT unit. The total consideration to be paid equals S$1.680 per unit. Overall, we believe that FLT’s proposed merger offer for FCOT 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.

FLT Merger with FCOT: Bigger, Broader and Better