Fujitsu Placement - Large Size, Tight Discount, But Extended Trading Allows Deal to Be Priced In

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p><a href="https://www.smartkarma.com/entities/16968" target="_blank" data-smartkarma-citation="entities:16968:1">Fujitsu Ltd (6702 JP)</a> is selling 54m shares of <a href="https://www.smartkarma.com/entities/12213" target="_blank" data-smartkarma-citation="entities:12213:1">Fuji Electric Co Ltd (6504 JP)</a> in a secondary placement. Post-deal, Fujitsu will be left with only 2.7% of Fuji Electric's total outstanding shares, down from 9.9% </p><p>The deal scores marginally negative on our framework owing to the company's poor track record but offset by its inexpensive valuation. The sell-down by Fujitsu should not come as a surprise ever since it was flagged out from Fuji Electric's sell down in Fujitsu. We covered the deal…</p>

Fujitsu Ltd (6702 JP) is selling 54m shares of Fuji Electric Co Ltd (6504 JP) in a secondary placement. Post-deal, Fujitsu will be left with only 2.7% of Fuji Electric's total outstanding shares, down from 9.9% The deal scores marginally negative on our framework owing to the company's poor track record but offset by its inexpensive valuation. The sell-down by Fujitsu should not come as a surprise ever since it was flagged out from Fuji Electric's sell down in Fujitsu. We covered the deal…

Fuji Electric Placement - Large Deal Size, Small Overhang