A bump is required due to the material market rerating since 21 December 2022. An offer of JPY828, a 15.1% premium to the current offer, implies a P/B of 1x.
What is covered in the Full Insight:
Offer Details
Reason for Bump Requirement
IFA's DCF Valuation Range
Shareholding Structure
Implication of No Dividends
SUMMARY
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