In today’s briefing:
- JAPAN ACTIVISM: Murakami Target Mitsui Matsushima Cleans Up
- HK CEO & Director Dealings (5th Jul 2024): J&T Global Express, Flat Glass, Lifetech Scientific, PCCW
- Hanwha Energy Launches Tender Offer of 180 Billion Won Worth of Hanwha Corp
- Old Dominion Freight Line Inc.: How They Are Growing Volumes Through Operating Ratio Leverage! – Major Drivers
JAPAN ACTIVISM: Murakami Target Mitsui Matsushima Cleans Up
- On 20 May, I wrote that Japanese activist MURAKAMI Yoshiaki and relations/affiliates had gone from 5% to 20% of Mitsui Matsushima (1518 JP) in 5 trading days.
- I wondered if it was real, or a pump & dump, but they went to near 30% in following days. THEN they drifted off as Murakami-Fille sold while Murakami-Père bought.
- The reasoning was not clear, but the story had real potential. Still does. Today, shareholders got more good news.
HK CEO & Director Dealings (5th Jul 2024): J&T Global Express, Flat Glass, Lifetech Scientific, PCCW
- The data in this insight is collated from the “shareholding disclosure” link on the HKEx website.
- Often there is a corresponding HKEx announcement on the increase – or decrease – in the shareholding by directors. Or pledging. However, such disclosures are by no means an absolute.
- The key stocks mentioned in this regular insight include: J&T Global Express (1519 HK), Flat Glass (6865 HK), Lifetech Scientific (1302 HK), and PCCW Ltd (8 HK).
Hanwha Energy Launches Tender Offer of 180 Billion Won Worth of Hanwha Corp
- On 5 July, Hanwha Energy announced a tender offer of 8% stake in Hanwha Corporation (000880 KS) worth 180 billion won.
- The tender offer price is 30,000 won. Hanwha Energy will launch a tender offer for up to 6 million shares of Hanwha Corp, representing 8% of outstanding shares.
- Hanwha Corp’s 34% stake in Hanwha Aerospace which is worth 4.2 trillion won. (191% of Hanwha Corp’s market cap).
Old Dominion Freight Line Inc.: How They Are Growing Volumes Through Operating Ratio Leverage! – Major Drivers
- Old Dominion Freight Line, a major freight carrier company, recently released its first quarter 2024 which reflected a challenging economic environment but also highlighted areas of growth.
- Despite the continued softness in the domestic economy, Old Dominion was able to report modest year over-year increases in revenue and earnings per diluted share for two consecutive quarters.
- Its Q1 2024 earnings per diluted share of $1.34 signifies a new company record for this period.
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