IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Weekly Deals Digest (25 Jun) - Alibaba, JSR, Shinsei, Arcland, InvoCare, J&T Global, Amman Mineral

JSR Corporation (4185 JP): JIC’s Pre-Conditional Tender Offer at JPY4,350

Weekly Deals Digest (02 Jul) - JSR, Dali Foods, NWS, Poly Culture, Yitai, DDH1/Perenti, Tryt

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>Nikkei <a href="https://asia.nikkei.com/Business/Business-deals/Japan-state-backed-fund-looks-to-buy-top-photoresist-maker-JSR" target="_blank" rel="noopener">reports</a> that Japan Investment Corporation (JIC) is in talks to acquire <a href="https://www.smartkarma.com/entities/jsr-corp" target="_blank" data-smartkarma-citation="entities:17620:1" rel="noopener">JSR Corp (4185 JP)</a> for around JPY1 trillion (US$7 billion) through a tender offer.</li>
<li>JSR responded, "<em>No decision has been made at this moment, although JSR is considering this matter.</em>” The Board will discuss the proposal on Monday.</li>
<li>Minorities will be supportive as the JPY1 trillion valuation implies a tender price of JPY4,850 per share, a 50% premium to the last close and an all-time share price high.   </li>
</ul>


Nikkei reports that Japan Investment Corporation (JIC) is in talks to acquire JSR Corp (4185 JP) for around JPY1 trillion (US$7 billion) through a tender offer.
JSR responded, "No decision has been made at this moment, although JSR is considering this matter.” The Board will discuss the proposal on Monday.
Minorities will be supportive as the JPY1 trillion valuation implies a tender price of JPY4,850 per share, a 50% premium to the last close and an all-time share price high.   


Innox Advanced Materials Co,Ltd. (272290 KS)

JSR Corporation (4185 JP): JIC’s Tender Offer Looming?