Daily Brief TMT/Internet: Kokusai Electric , Gambling.com Group and more

• Kokusai Electric (6525 JP)’s 180-day IPO lock-up period for 71% of outstanding shares expires on 22 April. The shares exiting the lock-up period are worth US$4.8 billion.
• The likely seller will be KKR & (KKR US) as it was the sole selling shareholder in the IPO. The shares are currently trading at 2.4x the IPO price.
• Kokusai anticipates a return to growth and margin improvement in FY24. However, Kokusai trades at a material premium to peer multiples and is fully priced. 

• GAMB is a performance marketing company focused on regulated online gambling, with a $350 million market cap
• Founded in 2006, the company has expanded to target the growing North American market
• Despite a range-bound stock price since its IPO, a secondary offering in June 2023 improved liquidity and reduced shareholder concentration, trading at a modest 8x 2024 consensus EBITDA

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.