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

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

Merger Arb Mondays (09 Dec) - HKBN, ESR, Lifestyle China, GA Pack, Latin Res, De Grey, SG Fleet

HKBN (1310 HK): China Mobile Is the Latest to Show Interest

HKBN (1310 HK): Trading Halt, HGC’s Rumoured Takeover Offer

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

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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.

Event-Driven

<ul>
<li>Bloomberg <a href="https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/china-mobile-said-explore-deal-internet-provider-hkbn" target="_blank" rel="noopener">reports</a> that <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> is exploring a buyout of <a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" data-smartkarma-citation="entities:289:1" rel="noopener">HKBN Ltd (1310 HK)</a> and is willing to pay at least HK$5.00, a 16.0% premium to last close.  </li>
<li>HKBN has been the subject of numerous bid rumours, which seemingly came to nothing due to the challenge of meeting the largest shareholders' (TPG and MBK) price expectations. </li>
<li>The rumoured offer price will struggle to gain TPG/MBK’s backing. The current valuation is unappealing, as HKBN trades at a premium multiple compared to peers at the last close. </li>
</ul>


Bloomberg reports that China Mobile (941 HK) is exploring a buyout of HKBN Ltd (1310 HK) and is willing to pay at least HK$5.00, a 16.0% premium to last close.  
HKBN has been the subject of numerous bid rumours, which seemingly came to nothing due to the challenge of meeting the largest shareholders' (TPG and MBK) price expectations. 
The rumoured offer price will struggle to gain TPG/MBK’s backing. The current valuation is unappealing, as HKBN trades at a premium multiple compared to peers at the last close. 


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