IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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>
<a href="https://www.smartkarma.com/entities/mcj-co-ltd" target="_blank" data-smartkarma-citation="entities:14132:1" rel="noopener">MCJ Co Ltd (6670 JP)</a> has recommended a Bain-sponsored MBO at JPY2,200, a 43.0% premium to the last close. </li>
<li>Mr Yuji Takashima (Chairman and CEO) will reinvest to take a 33.1% stake. The offer represents an all-time high and aligns with the midpoint of the IFA DCF valuation range.</li>
<li>However, the sale process was lacking (no auction) and is light compared to peer multiples. Barring the emergence of an activist, this is a done deal. </li>
</ul>



MCJ Co Ltd (6670 JP) has recommended a Bain-sponsored MBO at JPY2,200, a 43.0% premium to the last close. 
Mr Yuji Takashima (Chairman and CEO) will reinvest to take a 33.1% stake. The offer represents an all-time high and aligns with the midpoint of the IFA DCF valuation range.
However, the sale process was lacking (no auction) and is light compared to peer multiples. Barring the emergence of an activist, this is a done deal. 


MCJ (6670 JP): Bain-Sponsored MBO at JPY2,200

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jan 30th. The aggregated short interest was USD29.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Silergy, Hon Hai Precision, Fortune Electric, Wistron, BizLink.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jan 30th. The aggregated short interest was USD29.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Silergy, Hon Hai Precision, Fortune Electric, Wistron, BizLink.


TWSE Short Interest Weekly (Jan 30th): Silergy, Hon Hai Precision, Fortune Electric, Wistron

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 19th. The aggregated holding was USD1,328.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD4,695mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics, TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 19th. The aggregated holding was USD1,328.6bn.
We estimate that foreign flows to be outflows of USD4,695mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics, TSMC, Quanta Computer, Winbond Electronics, Asustek Computer, Delta Electronics.


TWSE Foreign Holding Weekly (Dec 19th): TSMC, Quanta Computer, Winbond Electronics, Asustek Computer

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 12th. The aggregated holding was USD1,385.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD614mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Accton Technology, Hon Hai Precision, L&amp;K Engineering, Wistron, TSMC, Accton Technology, L&amp;K Engineering, Hon Hai Precision, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 12th. The aggregated holding was USD1,385.1bn.
We estimate that foreign flows to be inflows of USD614mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Accton Technology, Hon Hai Precision, L&amp;K Engineering, Wistron, TSMC, Accton Technology, L&amp;K Engineering, Hon Hai Precision, Wistron.


TWSE Foreign Holding Weekly (Dec 12th): TSMC, Accton Technology, Hon Hai Precision, L&K Engineering

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Dec 12th. The aggregated short interest was USD28.2bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works, Winbond Electronics, Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Dec 12th. The aggregated short interest was USD28.2bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works, Winbond Electronics, Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works.


TWSE Short Interest Weekly (Dec 12th): Hon Hai Precision, Nanya Technology, King Yuan Electronics

Taiwan

Acer Inc. manufactures and distributes semiconductor products, personal computers, computer peripherals, multimedia products, and computer software. The Company also provides maintenance and repair services to customers.  In addition, Acer Inc. operates real estate business. The Company markets its products under the Acer brand name.

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Acer Inc (2353 TT)

MCJ (6670 JP): Bain-Sponsored MBO at JPY2,200

The offer represents an all-time high and aligns with the midpoint of the IFA DCF valuation range. However, the offer is light compared to peer...

Arun George

TWSE Short Interest Weekly (Jan 30th): Silergy, Hon Hai Precision, Fortune Electric, Wistron

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Silergy, Hon Hai Precision, Fortune Electric,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 19th): TSMC, Quanta Computer, Winbond Electronics, Asustek Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Quanta Computer (2382 TT),...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Dec 12th): TSMC, Accton Technology, Hon Hai Precision, L&K Engineering

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Accton Technology (2345 TT), Hon...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Dec 12th): Hon Hai Precision, Nanya Technology, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Hon Hai Precision (2317 TT), Nanya Technology...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)