Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<div><p><em>Tachiaigai Bunbai</em> Offerings are the most common "Pre-event" indicators for TOPIX Inclusion Events. </p></div><div>
<p>A <em>tachiaigai bunbai</em> Offering is where a company sells newly issued or secondary shares (usually from a controlling shareholder) to the public (Off-market), with a limit placed on the maximum quantity per subscriber, most often with the intention of increasing the number of shareholders, public float percentage, and/or the market capitalization of the public float in order to meet TSE1 Section Transfer requirements. They are announced as taking place in a period a week or two later, then confirmed on the eve of the offer on pricing date - usually at a 2-4% discount - and the offer takes place pre-open the next day.</p>
<p>I have discussed such offerings previously in <a href="https://www.smartkarma.com/insights/topix-inclusion-pre-events-recent-tachiaigai-bunbai-round-up" target="_blank" data-smartkarma-citation="insights:40509" rel="noopener">TOPIX Inclusion Pre-Events: Recent "Tachiaigai Bunbai" Round-Up</a> in June 2020 and in <a href="https://www.smartkarma.com/insights/topix-inclusion-pre-events-recent-tachiaigai-bunbai-round-up-october-2020-two-stocks-to-buy" target="_blank" data-smartkarma-citation="insights:43984" rel="noopener">TOPIX Inclusion Pre-Events: Recent “Tachiaigai Bunbai” Round-Up (October 2020) - Two Stocks To Buy</a> in October 2020.  </p>
<p>Below is a closer look at the recent history of such <em>tachiaigai bunbai</em> offerings and a discussion on the potential of these candidates to get promoted to TSE1 in the near future. </p>
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Tachiaigai Bunbai Offerings are the most common "Pre-event" indicators for TOPIX Inclusion Events. 
A tachiaigai bunbai Offering is where a company sells newly issued or secondary shares (usually from a controlling shareholder) to the public (Off-market), with a limit placed on the maximum quantity per subscriber, most often with the intention of increasing the number of shareholders, public float percentage, and/or the market capitalization of the public float in order to meet TSE1 Section Transfer requirements. They are announced as taking place in a period a week or two later, then confirmed on the eve of the offer on pricing date - usually at a 2-4% discount - and the offer takes place pre-open the next day.
I have discussed such offerings previously in TOPIX Inclusion Pre-Events: Recent "Tachiaigai Bunbai" Round-Up in June 2020 and in TOPIX Inclusion Pre-Events: Recent “Tachiaigai Bunbai” Round-Up (October 2020) - Two Stocks To Buy in October 2020.  
Below is a closer look at the recent history of such tachiaigai bunbai offerings and a discussion on the potential of these candidates to get promoted to TSE1 in the near future. 


TOPIX Inclusion Pre-Events: Recent “Tachiaigai Bunbai” Round-Up (August 2021)

Japan

OTEC CORPORATION is an electrical engineering company.  The Company designs, constructs, and maintains automatic air-conditioning control systems in office buildings.  Otec also sells its related products such as pipes and valves. Additionally, the Company develops integrated building management systems for security, water supply, communication, and electrical facilities.

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Otec Corp (1736 JP)

TOPIX Inclusion Pre-Events: Recent “Tachiaigai Bunbai” Round-Up (August 2021)

Tachiaigai Bunbai Offerings are the most common "Pre-event" indicators for TOPIX Inclusion Events. In this insight, I have handpicked a few...

Janaghan Jeyakumar, CFA

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