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

Giordano’s Acceptances Just Short of the 50% Voting Threshold; Offer Period Extended

Giordano’s Improving Outlook and Surprising Dividend Provide Deal-Break Support

Giordano’s Retail Recovery Will Force the Cheng Family into a Rethink

Giordano’s Conditional Offer Open, Price Declared Final, Unlikely to Meet 50%+ Voting Threshold

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>The offeror and acceptances reached 46.04%, just short of the 50% minimum acceptance condition. The offeror has decided to let the <a href="https://www.smartkarma.com/entities/giordano-international-ltd" target="_blank" data-smartkarma-citation="entities:13899:1" rel="noopener">Giordano International (709 HK)</a> offer lapse.</li>
<li>The offer fell short of the 50% threshold as the Cheng family mistakenly assumed that shareholders behind Halycon's stake were friendly shares, which would support the offer.</li>
<li>The downside will be muted as the shares are trading in line with the 1-year average forward P/E, minorities thought the offer was low, and David Webb is a buyer.</li>
</ul>


The offeror and acceptances reached 46.04%, just short of the 50% minimum acceptance condition. The offeror has decided to let the Giordano International (709 HK) offer lapse.
The offer fell short of the 50% threshold as the Cheng family mistakenly assumed that shareholders behind Halycon's stake were friendly shares, which would support the offer.
The downside will be muted as the shares are trading in line with the 1-year average forward P/E, minorities thought the offer was low, and David Webb is a buyer.


Giordano International

Giordano’s VGO Lapses