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 - Razer, 51Job, Irongate, Link, Crown Resorts, Guodian

Merger Arb Mondays - Yashili, Razer, 51Job, Uniti, Link, Sezzle, Guodian

Link's Privatisation by DND on Track to Complete in June/July

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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>
<a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration Holdings (LNK AU)</a>’s 1HFY22 results on 24 February stated that the Dye &amp; Durham/DND's privatisation scheme remains on track to complete in June/July. </li>
<li>Key hurdles are ACCC clearance and the Woodford investigation. Key catalysts are the scheme booklet (in the coming weeks) and an agreement to sell BCM. </li>
<li>We would be buyers up to A$5.2 per share (implies 70% deal probability). The gross and annualised spread for a 31 July implementation is 8.6% and 23.8%, respectively. </li>
</ul>



Link Administration Holdings (LNK AU)’s 1HFY22 results on 24 February stated that the Dye &amp; Durham/DND's privatisation scheme remains on track to complete in June/July. 
Key hurdles are ACCC clearance and the Woodford investigation. Key catalysts are the scheme booklet (in the coming weeks) and an agreement to sell BCM. 
We would be buyers up to A$5.2 per share (implies 70% deal probability). The gross and annualised spread for a 31 July implementation is 8.6% and 23.8%, respectively. 


Link Administration

Link's Offer Spread Risk/Reward