Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

After the close today, Japanese materials, machinery, and electric power business <a href="https://www.smartkarma.com/entities/kobe-steel-ltd" target="_blank" data-smartkarma-citation="entities:209:1" rel="noopener">Kobe Steel Ltd (5406 JP)</a> announced they would merge with consolidated subsidiary <a href="https://www.smartkarma.com/entities/kobelco-eco-solutions-co-ltd" target="_blank" data-smartkarma-citation="entities:5802:1" rel="noopener">Kobelco Eco Solutions (6299 JP)</a> in a share swap deal that will result in Kobelco Eco getting delisted from the Tokyo Stock Exchange. Kobelco Eco shareholders will receive a scrip consideration of 4.85 Kobe Steel shares per Kobelco Eco share. As at the time of writing, Kobelco Eco has a market cap of ¥44bn (~US$400mn).The Deal is conditional on Kobelco Eco shareholder approval. The record date for the EGM is set to be 20th August 2021 and the EGM is expected to take place on 30th September 2021. The Merger is expected to become effective on 1st November 2021. More below the fold.<hr><div class="content-remarks">For more information about M&amp;A rules, regulations, and practices in Japan, please refer to <a href="https://www.smartkarma.com/insights/quiddity-japan-m-a-guide-2019" target="_blank" data-smartkarma-citation="insights:28911" rel="noopener">Quiddity Japan M&amp;A Guide 2019</a> </div>

After the close today, Japanese materials, machinery, and electric power business Kobe Steel Ltd (5406 JP) announced they would merge with consolidated subsidiary Kobelco Eco Solutions (6299 JP) in a share swap deal that will result in Kobelco Eco getting delisted from the Tokyo Stock Exchange. Kobelco Eco shareholders will receive a scrip consideration of 4.85 Kobe Steel shares per Kobelco Eco share. As at the time of writing, Kobelco Eco has a market cap of ¥44bn (~US$400mn).The Deal is conditional on Kobelco Eco shareholder approval. The record date for the EGM is set to be 20th August 2021 and the EGM is expected to take place on 30th September 2021. The Merger is expected to become effective on 1st November 2021. More below the fold.For more information about M&amp;A rules, regulations, and practices in Japan, please refer to Quiddity Japan M&amp;A Guide 2019 

Kobelco Eco (6299) - Kobe Steel (5406): This Scrip Merger Is a Done Deal