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

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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

Futu Holdings Ltd / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/futu-holdings-ltd" target="_blank" data-smartkarma-citation="entities:27858:1" rel="noopener">Futu Holdings Ltd (FUTU US)</a> is a leading online brokerage and wealth management platform in Hong Kong which is backed by <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> (owns 22.8% of ordinary shares, 27.9% of voting power). Futu has launched an ADS follow-on to sell 9.5 million ADSs. At the last close price of $177.92 per ADS, the placing would raise gross proceeds of $1.7 billion.   </p><div class="content-highlight"><p>Investors who participated in the last placing of 9.5 million ADSs at $33.00 per ADS in August 2020 have done incredibly well. Despite the strong share price momentum, we continue to think that the large addressable market opportunity, favourable market conditions and ongoing market share gains should help Futu sustain its momentum. Consequently, we would be tempted to participate in the follow-on ADS offering. </p></div>

Futu Holdings Ltd (FUTU US) is a leading online brokerage and wealth management platform in Hong Kong which is backed by Tencent Holdings (700 HK) (owns 22.8% of ordinary shares, 27.9% of voting power). Futu has launched an ADS follow-on to sell 9.5 million ADSs. At the last close price of $177.92 per ADS, the placing would raise gross proceeds of $1.7 billion.   Investors who participated in the last placing of 9.5 million ADSs at $33.00 per ADS in August 2020 have done incredibly well. Despite the strong share price momentum, we continue to think that the large addressable market opportunity, favourable market conditions and ongoing market share gains should help Futu sustain its momentum. Consequently, we would be tempted to participate in the follow-on ADS offering. 

Futu Holdings Ltd

Futu Holdings Placement: Going Places