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

ThaiBev’s BeerCo Limited IPO: 1Q Results

ThaiBev’s BeerCo IPO: Third Time’s the Charm?

Thai Beverage (THBEV SP) - Beer Aids Recovery

Thai Beverage (THBEV SP) - A Beer Fuelled Future

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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.

Equity Capital Markets

<div><p>BeerCo consists of <a href="https://www.smartkarma.com/entities/thai-beverage-pcl" target="_blank" data-smartkarma-citation="entities:3656:1" rel="noopener">Thai Beverage (THBEV SP)</a>'s beer business and operations except for the sale of Thai beer products outside Thailand. ThaiBev aims to raise $2 billion and seek up to a $10 billion valuation for BeerCo, according to press reports.</p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/thaibev-s-beerco-ipo-first-look" target="_blank" data-smartkarma-citation="insights:47885" rel="noopener">ThaiBev’s BeerCo IPO: First Look</a>, we opined that BeerCo has attractive fundamentals as it will return to growth driven by the recovery in on-premise consumption as the effect of the COVID-19 pandemic wanes. Consequently, BeerCo warrants a closer look. Our first-look valuation analysis suggests that BeerCo's rumoured valuation of $10 billion can be justified. </p></div></div></div>

BeerCo consists of Thai Beverage (THBEV SP)'s beer business and operations except for the sale of Thai beer products outside Thailand. ThaiBev aims to raise $2 billion and seek up to a $10 billion valuation for BeerCo, according to press reports.In ThaiBev’s BeerCo IPO: First Look, we opined that BeerCo has attractive fundamentals as it will return to growth driven by the recovery in on-premise consumption as the effect of the COVID-19 pandemic wanes. Consequently, BeerCo warrants a closer look. Our first-look valuation analysis suggests that BeerCo's rumoured valuation of $10 billion can be justified. 

ThaiBev’s BeerCo IPO: Valuation First Look