In today’s briefing:
- Nikkei: MUFG To Launch TOB on WealthNavi (7342)
- Boqi Env (2377 HK)’s Partial Offer Now Open. But First The EGM
- Quiddity JPX-Nikkei 400 Rebal 2025: End-Nov 2024 Ranks
- Ecopro BM’s KOSPI Move: Trade LS Marine Solution & Green Cross for the Real Play
- End of Mandatory Lock-Up Periods for 52 Companies in Korea in December 2024
Nikkei: MUFG To Launch TOB on WealthNavi (7342)
- Early this morning, a Nikkei article said Mitsubishi UFJ Financial (MUFG) (8306 JP) would buy out the remaining 85% of WealthNavi (7342 JP). Expected to be completed by March.
- MUFJ Bank and WealthNavi signed a Business Alliance in February. WealthNavi issued 9.11mm new shares to MUFJ at ¥1,718/share. That was a discount to market and shares are down ~40%.
- WealthNavi’s AUM is growing (¥1.3trln at end-Oct) and the goal is to launch a money advisory platform by FY2026. Now they need to decide on the premium.
Boqi Env (2377 HK)’s Partial Offer Now Open. But First The EGM
- On the 23rd October, flue gas treatment play China Boqi Environmental Hol (2377 HK) announced a buyback of 15% of shares out, at HK$1.20/share, a 16.5% premium to undisturbed.
- The buyback lifts the stake of co-founder Zeng Zhijun and concert parties to 32.59% – up from 27.71% – before options. To avoid an MGO, this requires a whitewash waiver
- The Offer Doc is now out. The EGM – and the first close – is the 20th December.
Quiddity JPX-Nikkei 400 Rebal 2025: End-Nov 2024 Ranks
- JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
- The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
- Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-November 2024.
Ecopro BM’s KOSPI Move: Trade LS Marine Solution & Green Cross for the Real Play
- Ecopro BM’s still hot trading volume might minimize passive impact. The real action is who replaces it in KOSDAQ 150 and which KOSPI 200 stock gets the boot.
- LS Marine Solution joins KOSDAQ 150, while Green Cross Holdings gets the boot due to the lowest average daily market cap from May 1 to October 31.
- KRX fast-tracks approvals for financially strong companies in 20 trading days. Ecopro BM likely qualifies, meaning approval could come before Christmas—ideal timing for entry.
End of Mandatory Lock-Up Periods for 52 Companies in Korea in December 2024
- We discuss the end of the mandatory lock-up periods for 52 stocks in Korea in December 2024, among which two are in KOSPI and 50 are in KOSDAQ.
- Hese 52 stocks on average could be subject to further selling pressures in December and could underperform relative to the market.
- The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in December are Jeju Air, LS Materials, and Toolgen.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
