In today’s briefing:
- Toyo Construction (1890) – Mystery Holders Now 17% (Or More)
- ToyoKen (1890) Mystery Bidder Is Yamauchi No. 10 Family Office – And That Changes Things
- Elon Musk Bids for All of Twitter 🤯
- SK Shieldus IPO: Index Inclusion Timeline
- WT Micro’s Offer For Excelpoint Tech
Toyo Construction (1890) – Mystery Holders Now 17% (Or More)
- WK 1-3 Limited are now (as of a week ago) 17.34% of Toyo Construction’s share register. They bought 40+% of volume in the relevant period, as I suggested they might.
- On a realtime basis, they could be 20+%, but because no single entity is there they would not become top shareholder as a triumvirate.
- I offer consolidated thoughts and like the idea of buying the dip.
ToyoKen (1890) Mystery Bidder Is Yamauchi No. 10 Family Office – And That Changes Things
- A Nikkei article this morning says the mystery bidder behind WK1/2/3 Limited is Nintendo founding family’s Yamauchi No.10 Family Office. This changes things more than just knowing their identity does.
- To start, their website is the most fun investment management company website I have come across. It’s great. https://y-n10.com/. It’s also well worth reading. It’s also worth noting their history.
- Understanding the parameters here is key to understanding possible next steps.
Elon Musk Bids for All of Twitter 🤯
- Elon Musk has apparently sent a letter to Bret Taylor, Chairman of the Board of Twitter, saying he would make a bid for 100% of Twitter at US$54.20/share.
- Get it? Get it? Nudge nudge wink wink. That’s all part of the fun for him.
- The question is whether this bid, which creates problems of whether one should take it seriously vs literally, or vice versa, engenders more discussion about how the platform makes money.
SK Shieldus IPO: Index Inclusion Timeline
- SK Shieldus (ABFHIZ KS) is looking to raise up to US$860m selling a mix of primary and secondary shares. The stock is expected to in the second half of May.
- The company will be valued at US$2.87bn at the top end of the IPO range and will not get Fast Entry to any of the major indices.
- Entry to the KOSPI2 INDEX is unlikely, MSCI inclusion could take place at the November SAIR, while FTSE inclusion could take place at the December QIR.
WT Micro’s Offer For Excelpoint Tech
- WT Microelectronics (3036 TT) has entered into an agreement to acquire electronic component distributor Excelpoint Technology (EXLP SP) by way of a Scheme at a cash consideration of S$1.93/share.
- This is an Offer premium 7.8% to last close but a 21.4% premium prior to the announcement Excelpoint was in discussions with a third party involving the company’s shares.
- Albert Phuay (founder and CEO) will reinvest part of his cash consideration under the Scheme in 20% equity of the Acquiring Entity, with the balance 80% stake owned by WT.
Before it’s here, it’s on Smartkarma
