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

<p>On Thursday, <a href="https://www.smartkarma.com/entities/sph-reit" target="_blank" data-smartkarma-citation="entities:5994:1" rel="noopener">SPH REIT (SPHREIT SP)</a> unveiled plans to raise around S$161.5 million through a private placement of new units. The private placement price range is set at S$1.031-1.075 per new unit. </p><div class="content-highlight"><p>The proceeds from the placement will be used to partially fund the proposed acquisition of 50% stake in the Westfield Marion Shopping Centre in Adelaide. Overall, we believe that the proposed acquisition is attractive, and SPH’s valuation is reasonable at the private placement range.</p></div>

On Thursday, SPH REIT (SPHREIT SP) unveiled plans to raise around S$161.5 million through a private placement of new units. The private placement price range is set at S$1.031-1.075 per new unit. The proceeds from the placement will be used to partially fund the proposed acquisition of 50% stake in the Westfield Marion Shopping Centre in Adelaide. Overall, we believe that the proposed acquisition is attractive, and SPH’s valuation is reasonable at the private placement range.

Capitaland Integrated Commercial Trust (CICT SP)

Mapletree Pan Asia Commercial Trust (MCT SP)

SPH REIT Placement: Reasonably Priced to Fund a Sensible Acquisition