In today’s briefing:
- Amvis Holdings (7071) – Large-Ish Offering, Large-Ish TOPIX Inclusion
- ECM Weekly (26th Feb 2023) – Japan Post Bank/Holding, Amvis, Pertamina, Zeekr, Honasa, Fangzhou, TVS
- Du Pont De Nemours and Company: Major Drivers
- Enphase Energy Inc: Acquisition of 365 Pronto & Other Drivers
- Synopsys Inc.: Major Drivers
- TransDigm Group: Major Drivers
Amvis Holdings (7071) – Large-Ish Offering, Large-Ish TOPIX Inclusion
- On Monday 20 February, nursing home, nursing and disability care services operator Amvis Holdings Inc (7071 JP) announced it would see a Secondary Offering of 10 million shares.
- It also announced that it would move to TSE Prime on 14 March.
- This increases Real World Float by quite a bit – about 40% – but it also leads to an end-April TOPIX Inclusion.
ECM Weekly (26th Feb 2023) – Japan Post Bank/Holding, Amvis, Pertamina, Zeekr, Honasa, Fangzhou, TVS
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- On the IPO front, Pertamina Geothermal Energy‘s listing kicked of what is shaping up to be a busy 2023 for ASEAN IPOs
- There were a few placements across the region but the biggest news was of Japan Post Bank (7182 JP)‘s planned selldown by Japan Post Holdings (6178 JP)
Du Pont De Nemours and Company: Major Drivers
- DuPont had a mixed fourth quarter and its revenues were below analyst expectations but the company managed to deliver an earnings beat.
- The company has also succeeded in enhancing its grip on industrial-end markets such as healthcare and aerospace.
- There was a strong pricing growth as well that helped mitigate the impact of inflation.
Enphase Energy Inc: Acquisition of 365 Pronto & Other Drivers
- Enphase delivered a strong quarter driven by amazing revenues through its microinverters.
- The company witnessed amazing growth in the gross margin as well as in the operating income.
- The overall supply environment of the microinverters remains stable throughout the quarter.
Synopsys Inc.: Major Drivers
- Synopsys had a strong start to the year and managed to meet the revenue expectations of Wall Street driven by its execution and robust technology portfolio.
- The company saw $6.9 billion in noncancelable backlog despite slower revenue growth in the semiconductor industry and robust, steady, time-based business models.
- Synopsys has a wide IP portfolio and they expect a continuance of designs, requiring more communication bandwidth, processing, storage, and security in ever more sophisticated silicon technologies.
TransDigm Group: Major Drivers
- TransDigm managed to have another strong quarter and delivered an all-around beat.
- It was another strong quarter with healthy growth in commercial revenues and bookings.
- We also have a dedicated analysis of the company’s Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.
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