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 (09 Sep) - Shinko, Fuji Soft, Pasco, GA Pack, CPMC, Latin Res, Capitol, PSC, Rex

Latin Resources (LRS AU): Pilbara Minerals (PLS AU)’s Scheme Vote on 16 January

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

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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>On 15 August, <a href="https://www.smartkarma.com/entities/latin-resources-ltd" target="_blank" data-smartkarma-citation="entities:8770:1" rel="noopener">Latin Resources (LRS AU)</a> disclosed a binding offer from <a href="https://www.smartkarma.com/entities/pilbara-minerals-ltd" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">Pilbara Minerals (PLS AU)</a> at 0.07 PLS share per LRS share, a 66.3% premium to the undisturbed price. </li>
<li>The key condition is LRS shareholder approval. No disinterested shareholder holds the 25% blocking stake, and low retail ownership lowers the headcount test risk. </li>
<li>The Salinas definitive feasibility study, expected in September, provides option value. A strong result could draw a competing offer or force PLS into sweetening terms.  </li>
</ul>


On 15 August, Latin Resources (LRS AU) disclosed a binding offer from Pilbara Minerals (PLS AU) at 0.07 PLS share per LRS share, a 66.3% premium to the undisturbed price. 
The key condition is LRS shareholder approval. No disinterested shareholder holds the 25% blocking stake, and low retail ownership lowers the headcount test risk. 
The Salinas definitive feasibility study, expected in September, provides option value. A strong result could draw a competing offer or force PLS into sweetening terms.  


Latin Resources (LRS AU): Pilbara Minerals’ All-Scrip Offer