Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Change 2QFY21: PubliTech and M&A to Drive Earnings; Current Multiples Offer Good Buying Opportunity

Change Inc: Digitisation of Public Enterprises in Japan to Drive Earnings

Tuya IPO Valuation: Market Leadership and China IoT Exposure Justify Expensive Multiples

Zhihu IPO: Searching for One-Hit Wonder Amidst Diversified Monetisation Channels

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Bilibili: Diversified Revenue Streams and Impressive Top Line Growth Justify Current Multiples

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/change-inc" target="_blank" data-smartkarma-citation="entities:27414:1" rel="noopener">Change Inc (3962 JP)</a>  has announced a follow-on offering of 5.4m shares on 12th March 2021. The new share issue will account for approx. 7.39% of the extended share capital (post follow-on offering) of Change and the company’s shares closed at JPY3,300 per share on the day of the announcement. At the above price, Change will raise about JPY17.7bn (US$163m). The offer price will be determined between 23-26th March 2021 at a 0-10% discount. The declining population and workforce in Japan have brought about a dire need to increase productivity innovation of Japanese companies. The company offers IT human resource development training services that include AI, IoT, big data, cloud, cyber security, robotics and mobile in Japan in order to increase the productivity of Japanese public and private enterprises.Refer our previous insight <a href="https://www.smartkarma.com/insights/change-inc-digitisation-of-public-enterprises-in-japan-to-drive-earnings" target="_blank" data-smartkarma-citation="insights:47153" rel="noopener">Change Inc: Digitisation of Public Enterprises in Japan to Drive Earnings</a>  where we have discussed in detail the company’s business model, segments, drivers and financials.

Change Inc (3962 JP)  has announced a follow-on offering of 5.4m shares on 12th March 2021. The new share issue will account for approx. 7.39% of the extended share capital (post follow-on offering) of Change and the company’s shares closed at JPY3,300 per share on the day of the announcement. At the above price, Change will raise about JPY17.7bn (US$163m). The offer price will be determined between 23-26th March 2021 at a 0-10% discount. The declining population and workforce in Japan have brought about a dire need to increase productivity innovation of Japanese companies. The company offers IT human resource development training services that include AI, IoT, big data, cloud, cyber security, robotics and mobile in Japan in order to increase the productivity of Japanese public and private enterprises.Refer our previous insight Change Inc: Digitisation of Public Enterprises in Japan to Drive Earnings  where we have discussed in detail the company’s business model, segments, drivers and financials.

Change Follow-On Offering: Worth Subscribing For