IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/arteria-networks-corp" target="_blank" data-smartkarma-citation="entities:27807:1" rel="noopener">ARTERIA Networks Corp (4423 JP)</a> has recommended <a href="https://www.smartkarma.com/entities/marubeni-corp" target="_blank" data-smartkarma-citation="entities:7463:1" rel="noopener">Marubeni Corp (8002 JP)</a> and <a href="https://www.smartkarma.com/entities/secom-co-ltd" target="_blank" data-smartkarma-citation="entities:11405:1" rel="noopener">Secom Co Ltd (9735 JP)</a>’s tender offer of JPY1,980 per share, a 54.1% premium to the undisturbed price.</li>
<li>The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the tender offer is set at a 16.61% ownership ratio.</li>
<li>The offer is conditional on Chinese and Japanese regulatory approvals. The minimum acceptance condition requires a 33% minority acceptance rate. This is doable as the tender price is attractive. </li>
</ul>



ARTERIA Networks Corp (4423 JP) has recommended Marubeni Corp (8002 JP) and Secom Co Ltd (9735 JP)’s tender offer of JPY1,980 per share, a 54.1% premium to the undisturbed price.
The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the tender offer is set at a 16.61% ownership ratio.
The offer is conditional on Chinese and Japanese regulatory approvals. The minimum acceptance condition requires a 33% minority acceptance rate. This is doable as the tender price is attractive. 


Arteria Networks (4423 JP): JPY1,980 Tender Offer from Marubeni and SECOM

Specialist in Japanese equities, Kheiron Group

Nathan Ramler, CFA

Specialist in Japanese equities

Kheiron Group

Tokyo-based with experience in global equity markets and M&A. Striving to add value and insight. 

Specialists in Japan

Equity Capital Markets

ARTERIA Networks Corp / Equity Capital Markets

It may seem hidden in the shadow of the <a href="https://www.smartkarma.com/entities/27445" target="_blank" data-smartkarma-citation="entities:27445:1">Softbank Corp (9434 JP)</a> IPO, but there is another player in the Japanese telecom sector coming to the market in December 2018. Namely, ARTERIA Networks Corporation. 
ARTERIA Networks is an important player in the Japanese telecom space. It has the 4th largest fiber-optic network in Japan and provides both B2C and B2B ICT services. It is the largest provider of wholesale residential building internet connectivity. If you live in a high-rise apartment building in Japan, there's a good chance that they are providing your internet access. 
ARTERIA Networks filed its IPO plans on 13 November 2018, and is planning to list under the ticker code 4423 on the Tokyo Stock Exchange on 12 December 2018. The preliminary IPO price implies a market capitalization of ¥70bn (about US$625m) or approximately 1% of the size of the upcoming SoftBank Corp. IPO. It's not a mega deal, but it does shed some interesting light on the domestic Japanese telecom marketplace. 
In this Insight we take a look at what ARTERIA Networks does, its IPO plans, and how it compares with its domestic peer group.

It may seem hidden in the shadow of the Softbank Corp (9434 JP) IPO, but there is another player in the Japanese telecom sector coming to the market in December 2018. Namely, ARTERIA Networks Corporation. 
ARTERIA Networks is an important player in the Japanese telecom space. It has the 4th largest fiber-optic network in Japan and provides both B2C and B2B ICT services. It is the largest provider of wholesale residential building internet connectivity. If you live in a high-rise apartment building in Japan, there's a good chance that they are providing your internet access. 
ARTERIA Networks filed its IPO plans on 13 November 2018, and is planning to list under the ticker code 4423 on the Tokyo Stock Exchange on 12 December 2018. The preliminary IPO price implies a market capitalization of ¥70bn (about US$625m) or approximately 1% of the size of the upcoming SoftBank Corp. IPO. It's not a mega deal, but it does shed some interesting light on the domestic Japanese telecom marketplace. 
In this Insight we take a look at what ARTERIA Networks does, its IPO plans, and how it compares with its domestic peer group. 

The "Hidden" Japanese Telecom IPO in Dec18: ARTERIA Networks

Japan

GIGA PRIZE CO., LTD. sets up internet connection service and offers security system. The Company also develops business, security and mobile software.

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Giga Prize (3830 JP)

Arteria Networks (4423 JP): JPY1,980 Tender Offer from Marubeni and SECOM

The offer is conditional on Chinese and Japanese regulatory approvals. The minimum acceptance condition requires a 33% minority acceptance rate....

Arun George

The "Hidden" Japanese Telecom IPO in Dec18: ARTERIA Networks

It may seem hidden in the shadow of the Softbank Corp (9434 JP) IPO, but there is another player in the Japanese telecom sector coming to the...

Nathan Ramler, CFA

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