Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with 10+ years experience in fundamental and event-driven research.

On Smartkarma, I mainly publish insights on index flow events. This includes predicting regular and intra-review index changes and formulating market-neutral trading strategies based on flow catalysts. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

Kenedix Residential Investment (3278 JP): Could Outperform Peers in the Next Few Weeks

J-REIT Offering Primer: Get Ready for Offering Season 2021

Quiddity Advisors

Pan-Asia Catalysts/Events

Equity Capital Markets

Kenedix Residential Investment / Equity Capital Markets

<p>Yesterday after the close, <a href="https://www.smartkarma.com/entities/kenedix-residential-investme" target="_blank" data-smartkarma-citation="entities:17149:1" rel="noopener">Kenedix Residential Next Investment Corp (3278 JP)</a> ("<strong>KDR</strong>") announced (<a href="https://www.kdr-reit.com/Portals/0/resources/ir/%E6%96%B0%E6%8A%95%E8%B3%87%E5%8F%A3%E7%99%BA%E8%A1%8C%E5%8F%8A%E3%81%B3%E6%8A%95%E8%B3%87%E5%8F%A3%E5%A3%B2%E5%87%BA%E3%81%97%E3%81%AB%E9%96%A2%E3%81%99%E3%82%8B%E3%81%8A%E7%9F%A5%E3%82%89%E3%81%9B.pdf" target="_blank" rel="noopener">J-only</a>) a follow-on equity offering to fund part of their <a href="https://www.kdr-reit.com/Portals/0/resources/english/ir/Notice%20Concerning%20Acquisition%20of%20Properties%20and%20Conclusion%20of%20Lease%20Contracts%20with%20New%20Tenants.pdf" target="_blank" rel="noopener">recent property acquisition</a> which consisted of four residential properties and two healthcare facilities. </p><div><p>The primary offer quantity is 42,500 units and there is also an over-allotment quantity of 2,125 units. The size of this offering could be around ¥7.7bn (~US$73mn).</p></div><div>
<p>The Offer Price will be determined between 18th and 24th February (typically it has been the first day of this window for most JREIT offerings) and the day following the offer price determination day (pricing date) will be the application date. </p>
<p><em>More below the fold.</em></p>
</div>

Yesterday after the close, Kenedix Residential Next Investment Corp (3278 JP) ("KDR") announced (J-only) a follow-on equity offering to fund part of their recent property acquisition which consisted of four residential properties and two healthcare facilities. The primary offer quantity is 42,500 units and there is also an over-allotment quantity of 2,125 units. The size of this offering could be around ¥7.7bn (~US$73mn).
The Offer Price will be determined between 18th and 24th February (typically it has been the first day of this window for most JREIT offerings) and the day following the offer price determination day (pricing date) will be the application date. 
More below the fold.


JREIT Offering: Kenedix Residential Next Investment Corp (3278 JP) - Take It (Vs Comps)