In today’s briefing:
- Hamamatsu Photonics Placement – Peculiar Timing
- Morning Views Asia: China Vanke , Shui On Land, SK Hynix, Yankuang Energy Group
Hamamatsu Photonics Placement – Peculiar Timing
- Toyota Motor (7203 JP) aims to raise around US$190m via selling over a 4% stake in Hamamatsu Photonics Kk (6965 JP).
- This is another cross-shareholding unwind and hence, won’t be a huge surprise. Although given the recent share price weakness, the timing appears peculiar.
- In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
Morning Views Asia: China Vanke , Shui On Land, SK Hynix, Yankuang Energy Group
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
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