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

TOPIX Inclusion Pre-Events: Recent “Tachiaigai Bunbai” Round-Up (August 2021)

TOPIX Index Upweights: The Big April Basket 2021

OBIC Business Consultants Placement - Large Deal Needs a Large Correction - Remains in Transition

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Gravity Works As WeWork Doesn't; Now Plan B

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

After market-close yesterday, Japan-based business system package software maker <a href="https://www.smartkarma.com/entities/obic-business-consultants" target="_blank" data-smartkarma-citation="entities:17383:1" rel="noopener">Obic Business Consultants (4733 JP)</a> ("OBIC BC") announced a <a href="https://www.obc.co.jp/hubfs/obc/ir_english/Notification%20Regarding%20Secondary%20Offering%20of%20Shares.pdf" target="_blank" rel="noopener">Secondary Offering of Shares</a> for a total quantity of 9,714,000 shares which, at the current trading price, translates to a total offering size of ~¥52bn (US$470mn). In this announcement, the company mentioned that they had received a notification from the Tokyo Stock Exchange on 9th July 2021 stating that their "Tradable Shares" ratio did not satisfy the criteria for maintaining a listing on the “Prime Market". The Company is currently listed on the First Section of the Tokyo Stock Exchange and they intend to transition to the “Prime Market”. In order to do so, the company must be able to improve their "Tradable Shares" ratio above 35%. This deal is an attempt to rectify the situation.

After market-close yesterday, Japan-based business system package software maker Obic Business Consultants (4733 JP) ("OBIC BC") announced a Secondary Offering of Shares for a total quantity of 9,714,000 shares which, at the current trading price, translates to a total offering size of ~¥52bn (US$470mn). In this announcement, the company mentioned that they had received a notification from the Tokyo Stock Exchange on 9th July 2021 stating that their "Tradable Shares" ratio did not satisfy the criteria for maintaining a listing on the “Prime Market". The Company is currently listed on the First Section of the Tokyo Stock Exchange and they intend to transition to the “Prime Market”. In order to do so, the company must be able to improve their "Tradable Shares" ratio above 35%. This deal is an attempt to rectify the situation.

Obic Business Consultants (4733 JP): Trying to Avoid TOPIX Deletion