In today’s briefing:
- Anycolor (5032 JP) – Moving to Prime Next Week, TOPIX Inclusion Next Month
- Tax-Loss Selling in Australia – Brief Historical Analysis And A Trade Basket
- Medtronic’s Delisting Offer For EOFlow
Anycolor (5032 JP) – Moving to Prime Next Week, TOPIX Inclusion Next Month
- Anycolor (5032 JP) IPOed a year ago, rose several-fold, saw the underwriting broker offer a huge target price, then it fell. There was an offering. And then the murders began.*
- The offering in January, discussed here, created overhang, and the stock fell sharply in the next 6 weeks. Blowout earnings came in mid-March. Along with a TSE Prime transfer application.
- Now we have the Prime promotion on 8 June, which leads to a TOPIX inclusion on 28 July.
Tax-Loss Selling in Australia – Brief Historical Analysis And A Trade Basket
- I am not a tax advisor and I do not play one on TV but it is a subject of interest in Australia, as an AFR article last year shows.
- The general gist of the idea is that retail investors in Australia will take gains on things which run up in price, or get taken over, then look for losses.
- Below I present a study using data from 2012-2022 of how a basket portfolio trade might work.
Medtronic’s Delisting Offer For EOFlow
- Back on the 25 May, healthcare company Medtronic Plc (MDT US) announced it had entered into a set of definitive agreements to acquire EOFlow (294090 KS).
- Via a three-step process – SPAs, issuance of new shares, and a Tender Offer – Medtronic will seek majority control, together with a view to delisting EOFlow.
- Completion is expected in 4Q23. Regulatory approvals – domestic and foreign – form part of the conditions. Trading wide to terms.
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