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

Merger Arb Mondays (17 Feb) - HKBN, Fosun Tourism, Get Nice, 7&I, Shibaura, Kaonavi, Paragon

HKBN (1310 HK): Another Sing Tao Article as Speculation Swirls on MBK’s Loan Notes Conversion

Merger Arb Mondays (24 Mar) - HKBN, ESR, Canvest, Vesync, Seven & I, Proto, Makino, Spartan

HKBN (1310 HK): China Mobile Resurfaces as a Rumoured Suitor

HKBN (1310 HK): China Mobile’s Half-Baked Preconditional VGO

HKBN (1310 HK): Déjà Vu as Privatisation Rumours Resurface

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" rel="noopener">HKBN Ltd (1310 HK)</a> shares declined 4.4% after a <a href="https://std.stheadline.com/daily/article/2657779/%E6%97%A5%E5%A0%B1-%E8%B2%A1%E7%B6%93-%E4%B8%AD%E7%A7%BB%E5%8B%95%E8%B3%BC%E9%A6%99%E6%B8%AF%E5%AF%AC%E9%A0%BB%E6%81%90%E8%A7%B8%E7%A4%81" target="_blank" rel="noopener">Sing Tao Daily article</a> claimed that the precondition satisfaction of <a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a>’s offer is at a stalemate. </li>
<li>The mainland regulatory authorities have not provided any feedback on the approval process. The <a href="https://www.smartkarma.com/entities/china-traditional-chinese-medicine" target="_blank" data-smartkarma-citation="entities:351:1" rel="noopener">China Traditional Chinese Medicine (570 HK)</a> deal break is cited as a cautionary tale.</li>
<li>While the China TCM deal break taught us that no deal is safe, even an SOE-sponsored deal, the article's concerns have little merit. This is a buy.</li>
</ul>



HKBN Ltd (1310 HK) shares declined 4.4% after a Sing Tao Daily article claimed that the precondition satisfaction of China Mobile (941 HK)’s offer is at a stalemate. 
The mainland regulatory authorities have not provided any feedback on the approval process. The China Traditional Chinese Medicine (570 HK) deal break is cited as a cautionary tale.
While the China TCM deal break taught us that no deal is safe, even an SOE-sponsored deal, the article's concerns have little merit. This is a buy.


Hutchison Telecommunications Hong Kong Holdings (215 HK)

Hutchison Telecommunications Hong Kong Holdings

China Traditional Chinese Medicine (570 HK)

HKBN (1310 HK): A Press Report Causes Trepidation