APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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Equity Capital Markets

CIMB Group Holdings / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/218" target="_blank" data-smartkarma-citation="entities:218:1">Mitsubishi UFJ Financial Group (8306 JP)</a> (MUFG) is selling 412m shares in <a href="https://www.smartkarma.com/entities/68" target="_blank" data-smartkarma-citation="entities:68:1">CIMB Group Holdings Bhd (CIMB MK)</a> worth approximately US$605m. This a cleanup trade by MUFG.</p><p>The deal scores poorly on our framework owing to its poor track record in the past. The company's recent 2Q results have been in line with street consensus. However, we think that the selldown by BTMU might be the end of the strategic partnerships between the two. In the past, BTMU formed alliances with CIMB in investment banking…</p>

Mitsubishi UFJ Financial Group (8306 JP) (MUFG) is selling 412m shares in CIMB Group Holdings Bhd (CIMB MK) worth approximately US$605m. This a cleanup trade by MUFG.The deal scores poorly on our framework owing to its poor track record in the past. The company's recent 2Q results have been in line with street consensus. However, we think that the selldown by BTMU might be the end of the strategic partnerships between the two. In the past, BTMU formed alliances with CIMB in investment banking…

Mitsubishi UFJ Financial (MUFG) (8306 JP)

CIMB Group Placement - End of Strategic Ties with MUFG?