In today’s briefing:
- Korea NPS Reportedly Finalized Additional 50 KOSPI Stocks in Its BM for Direct Management
- Boustead Projects (BOCJ SP): Unconditional Offer at S$0.90 from Boustead Singapore
- Iwasaki Electric (6924 JP): JPY4,460 MBO Tender Offer from Carlyle
- Zhejiang HangKe Technology-A (688006 CH) – Confirming a Tradeable Bullish Multi-Month Opportunity
Korea NPS Reportedly Finalized Additional 50 KOSPI Stocks in Its BM for Direct Management
- NPS said it would add 50 KOSPI stocks to KOSPI 200 for direct management. However, the key was when this would be implemented and which ones would be included.
- SBS, one of Korea’s major networks, exclusively reported that NPS finalized the constituent stocks of the NPS-KR250 and started rebalancing trading on the 50 additional KOSPI stocks from January.
- Hence, tracing and identifying who these additional 50 KOSPI stocks are is becoming the hottest topic in Korea’s local market at this point.
Boustead Projects (BOCJ SP): Unconditional Offer at S$0.90 from Boustead Singapore
- Boustead Projects (BOCJ SP)/BPL has disclosed a voluntary unconditional offer from Boustead Singapore Limited (BOCS SP) at S$0.90 per share, a 7.8% premium to the undisturbed price (3 February).
- The offer price is unattractive in comparison to peer multiples, historical trading ranges and precedent transactions. However, the offer price is not final.
- As Boustead Singapore aims to privatise BPL there is a possibility of a bump. The offer document will be despatched and the offer opens by 27 February.
Iwasaki Electric (6924 JP): JPY4,460 MBO Tender Offer from Carlyle
- Iwasaki Electric (6924 JP) has recommended an MBO tender offer, sponsored by Carlyle Group Inc (CG US), of JPY4,460 per share, an 86.1% premium to the undisturbed price (6 February).
- The transaction is a two-step acquisition through a cash tender offer and subsequent squeeze-out. The lower limit of the offer has been set to meet the 66.67% ownership ratio.
- The tender offer is attractive and represents a ten-year share price high. This suggests a done deal. The tender offer period is from 7 February to 22 March.
Zhejiang HangKe Technology-A (688006 CH) – Confirming a Tradeable Bullish Multi-Month Opportunity
- At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
- January completed a bullish 3 month reversal pattern in 688006 CH and thus confirmed a likely MT bottom.
- 688006 CH has had an incredible pivotal relationship with its 50 week MA since 2020. A weekly close above the 50 week MA will confirm a high probability MT uptrend.
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