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

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.

Equity Capital Markets

Shimao Services Holdings Limited / Equity Capital Markets

Shimao Services Holdings Limited (873 HK)

<p><a href="https://www.smartkarma.com/entities/shimao-services-holdings-limited" target="_blank" data-smartkarma-citation="entities:29199:1" rel="noopener">Shimao Services Holdings (SSH HK)</a> is a Chinese property management company which is a subsidiary of <a href="https://www.smartkarma.com/entities/shimao-property-holdings-limited" target="_blank" data-smartkarma-citation="entities:8375:1" rel="noopener">Shimao Property Holdings (813 HK)</a> and backed by Sequoia China and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a>. Shimao ranked third among the Top 20 Property Management Companies in China as measured by the revenue growth rate in 2019, according to China Index Academy. Shimao Group, the parent, will shortly launch the spin-off and Hong Kong IPO of Shimao to raise up to $1 billion, according to press reports. </p><div class="content-highlight"><p>Property management IPOs are popular due to the strong post-IPO share price performance of recent listings. The property management sector has a long-term recurring business model and is capital-light. Overall, Shimao’s fundamentals over the track record period are attractive, in our view.</p></div>

Shimao Services Holdings (SSH HK) is a Chinese property management company which is a subsidiary of Shimao Property Holdings (813 HK) and backed by Sequoia China and Tencent Holdings (700 HK). Shimao ranked third among the Top 20 Property Management Companies in China as measured by the revenue growth rate in 2019, according to China Index Academy. Shimao Group, the parent, will shortly launch the spin-off and Hong Kong IPO of Shimao to raise up to $1 billion, according to press reports. Property management IPOs are popular due to the strong post-IPO share price performance of recent listings. The property management sector has a long-term recurring business model and is capital-light. Overall, Shimao’s fundamentals over the track record period are attractive, in our view.

Powerlong Commercial Management Holdings (9909 HK)

Excellence Commercial Property & Facilities Management (6989 HK)

Excellence Commercial Property & Facilities Management

Shimao Services IPO Initiation: At Your Service