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

London Stock Exchange Group (LSE LN) - Thoughts On Valuation

Stock Short Ideas Within an Index Long Environment

Bolsas Y Mercados Españoles (BME SM) - Euronext: Shotgun Marriage?

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

<p>After the Hong Kong markets closed on Wednesday, <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">HKEX (388 HK)</a> announced a surprising unsolicited bid for the <a href="https://www.smartkarma.com/entities/london-stock-exchange-group" target="_blank" data-smartkarma-citation="entities:22034:1" rel="noopener">London Stock Exchange (LSE LN)</a>. The bid which consists of 2,045p in cash and 2.495 HKEX shares, values LSE at 8,361p per share and an EV of £31.6 billion. On the back of the bid, LSE shares jumped as high as 16% before settling back down to 7,218p, up 6%. </p><div class="content-highlight"><p>HKEX’s move is sensible based on creating a world-leading market infrastructure group, harnessing LSE’s intellectual property and increasing the volumes of UK-China listings. While LSE’s Board will evaluate the proposal, we believe the likelihood for a successful HKEX bid is relatively low. </p></div>

After the Hong Kong markets closed on Wednesday, HKEX (388 HK) announced a surprising unsolicited bid for the London Stock Exchange (LSE LN). The bid which consists of 2,045p in cash and 2.495 HKEX shares, values LSE at 8,361p per share and an EV of £31.6 billion. On the back of the bid, LSE shares jumped as high as 16% before settling back down to 7,218p, up 6%. HKEX’s move is sensible based on creating a world-leading market infrastructure group, harnessing LSE’s intellectual property and increasing the volumes of UK-China listings. While LSE’s Board will evaluate the proposal, we believe the likelihood for a successful HKEX bid is relatively low. 

HKEX

HKEX’s Phantom LSE Bid