Hitachi Selldown of Hitachi Maxell - Another Notch in the Belt

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p><a href="https://www.smartkarma.com/entities/7797" target="_blank" data-smartkarma-citation="entities:7797:1">Hitachi Ltd (6501 JP)</a> is looking to sell 6.2m shares of <a href="https://www.smartkarma.com/entities/2484" target="_blank" data-smartkarma-citation="entities:2484:1">Maxell Ltd (6810 JP)</a> for approximately US$128m. This is a pseudo cleanup trade by Hitachi because it will be left with just 3% in Maxell post-sale.</p><p>The deal scores very positively on our framework owing to its strong earnings momentum and much healthier balance sheet compared to peers. The deal should not come as a surprise to shareholders since Hitachi has been winding down their non-core assets. It has previously massive sold down Maxell…</p>

Hitachi Ltd (6501 JP) is looking to sell 6.2m shares of Maxell Ltd (6810 JP) for approximately US$128m. This is a pseudo cleanup trade by Hitachi because it will be left with just 3% in Maxell post-sale.The deal scores very positively on our framework owing to its strong earnings momentum and much healthier balance sheet compared to peers. The deal should not come as a surprise to shareholders since Hitachi has been winding down their non-core assets. It has previously massive sold down Maxell…

(Hitachi) Maxell Placement - Extended Trading, Cleanup, and Buyback Should Support Price