REPT BATTERO Energy IPO - Fastest Growth, Lowest Margins, No Valuation Discount
REPT BATTERO Energy is looking to raise around US$300m in its Hong Kong IPO. We have looked at the past performance in our earlier notes, in this...
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Denso Corp Placement - Not Quite Shaping up for a Win Yet
On 28th Nov 2023, Toyota (7203 JP) announced that it would sell around 9.4% of Denso (6902 JP) in order to reduce its cross-shareholding. In this...
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Harmonic Drive Placement - Cleanup Share Sale Will Remove the Overhang
Toyota Motor (7203 JP) is looking to raise US$116m from selling its entire stake in Harmonic Drive Systems (6324 JP). Toyota Motors will be selling...
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Rakuten Bank Placement - Was Expected at Some Point, Current Timing Seems Opportunistic
Rakuten Group (4755 JP) aims to raise US$430m via selling around 14.6% of Rakuten Bank (5838 JP). In this note, we talk about the deal dynamics.
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Toyota To Sell Harmonic Drive (6324 JP) Shares in Overseas Offering
Toyota is selling a US$125mm stake in Harmonic Drive Systems. That's 4.55%. Not overwhelming but it will increase the ownership of the target...
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