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 (22 Dec) - Kingston, Fengxiang, Yashili, Golden Energy, Olam, SSREIT, Warrego

Merger Arb Mondays (23 Jan) - Origin Energy, Warrego, Golden Energy, Yashili, Kingston, O2Micro

Golden Energy (GER SP): The Disconnect Between the Offer and Underlying Assets

Golden Energy & Resources (GER SP)’s Lacking Offer from the Widjaja Family

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Event-Driven

<ul>
<li>The long-stop date for the satisfaction of the offer conditions has been extended from 9 April to 9 August, to help <a href="https://www.smartkarma.com/entities/dian-swastatika-sentosa-tbk" target="_blank" data-smartkarma-citation="entities:15281:1" rel="noopener">Dian Swastatika Sentosa (DSSA IJ)</a> obtain shareholder approval.</li>
<li>An alternative explanation is that the Widjaja family’s offer for <a href="https://www.smartkarma.com/entities/united-fiber-system-ltd" target="_blank" data-smartkarma-citation="entities:20826:1" rel="noopener">Golden Energy &amp; Resources (GER SP)</a> is increasingly looking unattractive in light of <a href="https://www.smartkarma.com/entities/stanmore-coal-ltd" target="_blank" data-smartkarma-citation="entities:15252:1" rel="noopener">Stanmore Coal (SMR AU)</a>’s share price rally. </li>
<li>The offer remains light and we think that there is a good chance that the Widjaja family will raise its offer (likely a bump to the delisting price) to succeed.  </li>
</ul>


The long-stop date for the satisfaction of the offer conditions has been extended from 9 April to 9 August, to help Dian Swastatika Sentosa (DSSA IJ) obtain shareholder approval.
An alternative explanation is that the Widjaja family’s offer for Golden Energy &amp; Resources (GER SP) is increasingly looking unattractive in light of Stanmore Coal (SMR AU)’s share price rally. 
The offer remains light and we think that there is a good chance that the Widjaja family will raise its offer (likely a bump to the delisting price) to succeed.  


Golden Energy (GER SP): Long-Stop Date Extended as the Offer Looks Increasingly Light