Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

<ul>
<li>Yesterday, <a href="https://www.smartkarma.com/entities/daihatsu-diesel-mfg-co-ltd" target="_blank" data-smartkarma-citation="entities:12455:1" rel="noopener">Daihatsu Diesel Mfg (6023 JP)</a> announced that it would buy back shares in a Tender Offer and that its controlling "parent" would also sell shares to a private company.</li>
<li>The accretion is significant, and the shareholder structure changes significantly. It is not quite an Exedy-like situation though. The register changes but it doesn't clear. </li>
<li>But the backdrop is considerably different than the MTMP, and that means this smallcap is worth a closer look.</li>
</ul>


Yesterday, Daihatsu Diesel Mfg (6023 JP) announced that it would buy back shares in a Tender Offer and that its controlling "parent" would also sell shares to a private company.
The accretion is significant, and the shareholder structure changes significantly. It is not quite an Exedy-like situation though. The register changes but it doesn't clear. 
But the backdrop is considerably different than the MTMP, and that means this smallcap is worth a closer look.


Daihatsu Diesel's (6023) Big Buyback and Quasi Change of Control

Japan

Daihatsu Infinearth Mfg Co Ltd manufactures marine-use propulsion and auxiliary diesel engines, stationary diesel engines, and industrial products such as aluminum wheels and automatic door closers for train cars. The Company also manages real estate leasing with properties ranging from office buildings to parking garages.

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Daihatsu Infinearth (6023 JP)

Daihatsu Diesel's (6023) Big Buyback and Quasi Change of Control

Since the announcement of a Tender to buy back nearly 20% of shares out at a discount, reducing net cash, and upping EPS by 25%, Daihatsu Diesel...

Travis Lundy

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