Fancl (4921 JP): Kirin (2503 JP)’s Light JPY2,690 Tender Offer
The timing is opportunistic. While the offer is attractive compared to peer multiples, it is light compared to historical trading ranges. Securing...
372 Views
MS&AD Cross-Shareholding - At Least US$20bn of Cross-Shareholding to Sell
Along with its results announcement today, MS&AD announced that it will accelerate its cross-shareholding unwind and is targeting a sale of around...
771 Views
ECM Weekly (8th Apr 2024) - Hyundai Marine, Waaree Energies, Horizon Robotics, Bharti Hexacom
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs. This week...
330 Views
Chilled & Frozen Logistics (9099 JP): AZ-COM Maruwa (9090 JP)’s Hostile Offer
The hostile offer was a reaction to the Board’s lack of engagement. The Board will struggle to reject an attractive offer, which is 37.5% higher...
335 Views
Trial Holdings IPO Trading - Demand and Valuation Are Towards the Higher Side
Trial Holdings (5882 JP) (TH) raised around US$259m after pricing its IPO at the top-end in its Japan IPO. In this note, we talk about the trading...
392 Views