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 (13 Nov) - Benesse, JSR, IJTT, Shidax, Cybernet, CMIC, IRC, Hollysys, Healius

IRC Limited (1029 HK): A Wide Spread as the Conditional Offer Opens

Merger Arb Mondays (01 Jan) - Weiqiao Textile, IRC, IJTT, JSR, Shinko Electric, Hollysys, OreCorp

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/irc-ltd" target="_blank" data-smartkarma-citation="entities:20649:1" rel="noopener">Irc Ltd (1029 HK)</a> has announced a mandatory conditional offer from Nikolai Levitskii (Chairman) at HK$0.118 per share, a 32.6% premium to the undisturbed price (1 November). </li>
<li>The offer is conditional on the offeror and concert parties representing more than 50% of voting rights.  The offeror currently represents 30.61% of outstanding shares.</li>
<li>The offer looks light vs long-term trading ranges. The minimum acceptance threshold implies a minority acceptance rate of 27.9% (36.8% if MIC Invest does not tender), which is not onerous.</li>
</ul>



Irc Ltd (1029 HK) has announced a mandatory conditional offer from Nikolai Levitskii (Chairman) at HK$0.118 per share, a 32.6% premium to the undisturbed price (1 November). 
The offer is conditional on the offeror and concert parties representing more than 50% of voting rights.  The offeror currently represents 30.61% of outstanding shares.
The offer looks light vs long-term trading ranges. The minimum acceptance threshold implies a minority acceptance rate of 27.9% (36.8% if MIC Invest does not tender), which is not onerous.


IRC Limited (1029 HK): Mandatory Conditional Offer from the Chairman