Daily Brief ECM: Nihon Kohden (6849 JP): ¥10B Buyback Plan And Stock Split; Japan and US to Drive Business Growth and more

In today’s briefing:

Nihon Kohden (6849 JP): ¥10B Buyback Plan And Stock Split; Japan and US to Drive Business Growth
Nexus Select Trust IPO Lockup Expiry – US$1.5bn Stake Comes Free. Will Likely Be a Coordinated Exit
Lalatech Holdings Limited Pre-IPO – Refiling Updates – Continues to Improve, Valuation Gap Narrowing

Nihon Kohden (6849 JP): ¥10B Buyback Plan And Stock Split; Japan and US to Drive Business Growth

In FY25, Nihon Kohden (6849 JP) guided for domestic revenue of ¥147B, up 3% YoY. The demand for patient monitors and treatment equipment is expected to remain steady.
Nihon Kohden expects North America business to report a revenue CAGR of 11% (fastest among all the other regions) during FY24–27, outpacing mid-single-digit growth of the market.
The company announced ¥10B buyback plan to repurchase up to 6M shares, representing 3.57% of total number of issued shares from August 5, 2024, to March 31, 2025.

Nexus Select Trust (NST IN) raised around US$391m in its India IPO in May 2023.
NST is a REIT with a portfolio of 17 Grade A urban consumption centers. Its portfolio covers retail malls, office assets, hospitality assets and a renewable power plant.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.

Lalatech Holdings is looking to raise about US$1bn in its upcoming HK IPO.
Lalatech operates via a marketplace model serving merchants and carriers. Its platform facilitates closed-loop transactions from online shipping order booking to intelligent order matching, and automated dispatching to after-sale services.
We have looked at the company’s past performance in our earlier notes. In this note we will talk about the updates from its refiling.

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