In today’s briefing:
- Last Week in Event SPACE: Toshiba, Swire, SOHO, Link Admin, DIDI Global, 51job
Last Week in Event SPACE: Toshiba, Swire, SOHO, Link Admin, DIDI Global, 51job
- Toshiba Corp (6502 JP)‘s bidder list is out. It is Bain, Brookfield, JIP-JIC, and CVC. Overall, the impression of this pool of candidates is negative
- Swire Pacific (A) (19 HK) is trading cheap at a look-through forward P/B of 0.26x compared to its five-year average of 0.38x, and the two-year average pre-Covid of 0.48x.
- Soho China (410 HK)‘s name was toxic after SAMR dinged Blackstone’s deal. It is no less toxic now. Arguably the upside is greater than the downside. But on what timeframe?
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