In today’s briefing:
- Tender Offer of 43.4% Stake in Young Poong Precision by MBK
- KRX Releases November SSFs and SSOs Reshuffle: Here’s the Breakdown
- Shuangdeng Group Pre-IPO Tearsheet
- Copart Inc.: A Tale Of Global Expansion & Enhanced Buyer Engagement! – Major Drivers
- Core & Main Inc.: Will The Acquisition of HM Pipe Products Be A Game Changer? – Major Drivers
Tender Offer of 43.4% Stake in Young Poong Precision by MBK
- After the market close on 12 September, Hankyung Business Daily reported that MBK Partners plans to conduct a tender offer of 43.43% stake in Young Poong Precision.
- The tender offer price is 20,000 won per share (113% higher than the closing price on 12 September).
- Choi family currently controls Young Poong Precision. MBK plans to secure a controlling stake and obtain voting rights for the 1.85% stake in Korea Zinc held by Young Poong Precision.
KRX Releases November SSFs and SSOs Reshuffle: Here’s the Breakdown
- With the November reshuffle, single stock futures rise from 222 to 258 (+36) and single stock options increase from 52 to 58 (+6) across KOSPI 200 and KOSDAQ Global.
- The main takeaway from this reshuffle is the price impact from a short-term volume spike as market makers jump into newly listed single-stock futures.
- The volume surge in spot markets for newly listed assets consistently drives positive price impact, most notably right after listing, rather than waiting until contract expiry.
Shuangdeng Group Pre-IPO Tearsheet
- Shuangdeng Group Co Ltd (JISHUZ CH) is looking to raise about US$150m in its upcoming Hong Kong IPO. The deal will be run by CICC, CCBI and Huatai.
- Shuangdeng Group Co Ltd is engaged in energy storage business for big-data and telecommunication industries with a focus on design, R&D, manufacturing and sales of energy storage batteries and systems.
- It was ranked first among global telecom base station and data-center energy storage battery providers in terms of shipment volume, achieving a 10.4% market share in 2023, according to F&S.
Copart Inc.: A Tale Of Global Expansion & Enhanced Buyer Engagement! – Major Drivers
- In assessing the financial performance and business dynamics of Copart, Inc. for its fourth quarter and fiscal year 2024, certain key elements stand out which prospective investors should consider.
- The company reported a successful year, underscoring robust growth and strategic expansion across various segments of its operations.
- However, also noted were certain industry-wide challenges and specific business costs that affected overall financial outcomes.
Core & Main Inc.: Will The Acquisition of HM Pipe Products Be A Game Changer? – Major Drivers
- Core & Main, a prominent distributor in water, wastewater, storm drainage, and fire protection products, recently announced its fiscal 2024 second-quarter results, revealing a mix of operational strengths and market-related challenges.
- Core & Main maintains a strong position in the water infrastructure distribution sector, catering to over 60,000 customers with no single customer accounting for more than 1% of annual revenue.
- Its extensive network of over 350 branches across 49 states underscores its vast reach, enabling it to serve a wide geographic area.
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