Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

<div class="content-highlight">
Both Bitcoin and gold prices are rallying this year and this is probably a sign of a HEDGE against political instability in China, in our view. Bitcoin and gold are two of the best-performing assets this year, with many stock markets around the world hammered by the concerns from the Wuhan virus. 
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The following were the main headlines impacting the blockchain and cryptocurrencies sectors in South Korea, Japan, and globally in the past few weeks. 
<ul>
<li>BITCOIN PRICE RALLY IN 2020</li>
<li>SOUTH KOREA (TAXES ON CRYPTOS) </li>
<li>CME GROUP</li>
<li>XRP DELISTED FROM JAPAN'S BITBOX </li>
<li>FIRST SWISS COMPLIANT DIGITAL IPO </li>
<li>SAUDI ARAMCO INVESTS IN VAKT </li>
<li>NOMURA RESEARCH INSTITUTE (NRI) LAUNCHES A NEW CRYPTOCURRENCY INDEX </li>
<li>FORMATION OF NATIONAL DIGITAL CURRENCIES IN 2020</li>
<li>
BITCOIN BLOCK REWARD HALVING
</li>
<li>
EXPERTISE IN BLOCKCHAIN
</li>
</ul>
<ul>
<li>
GMO INTERNET
</li>
<li>
TOYOTA LEASING (THAILAND)
</li>
</ul>
<ul>
<li>SQUARE CRYPTO</li>
</ul>
<ul>
<li>
BITCOIN DOMINANCE
</li>
</ul>


Both Bitcoin and gold prices are rallying this year and this is probably a sign of a HEDGE against political instability in China, in our view. Bitcoin and gold are two of the best-performing assets this year, with many stock markets around the world hammered by the concerns from the Wuhan virus. 

The following were the main headlines impacting the blockchain and cryptocurrencies sectors in South Korea, Japan, and globally in the past few weeks. 

BITCOIN PRICE RALLY IN 2020
SOUTH KOREA (TAXES ON CRYPTOS) 
CME GROUP
XRP DELISTED FROM JAPAN'S BITBOX 
FIRST SWISS COMPLIANT DIGITAL IPO 
SAUDI ARAMCO INVESTS IN VAKT 
NOMURA RESEARCH INSTITUTE (NRI) LAUNCHES A NEW CRYPTOCURRENCY INDEX 
FORMATION OF NATIONAL DIGITAL CURRENCIES IN 2020

BITCOIN BLOCK REWARD HALVING


EXPERTISE IN BLOCKCHAIN




GMO INTERNET


TOYOTA LEASING (THAILAND)



SQUARE CRYPTO



BITCOIN DOMINANCE



This Month in Blockchain & Cryptos: Bitcoin Price Rally in 2020, OverFuture's Digital IPO, & Vakt

The past few days have been monumental in the short history of blockchain as China's president Xi Jinping stated that the country should<a href="https://www.marketwatch.com/story/bitcoin-surges-to-over-10000-in-biggest-single-day-move-since-april-2019-10-26" target="_blank" rel="noopener"> "seize the opportunity of blockchain technology." </a>This was essentially the first time that Xi has praised the merits of the blockchain technology, which resulted in the Bitcoin price exploding higher.
Although the exact timing of the launch of the China government-backed cryptocurrency is not yet known, it could be launched as soon as this winter. It remains to be seen how the Chinese government will seek to regulate Bitcoin and Ethereum as well as its own Chinese government driven cryptocurrency. However, we believe that one of the ways that the Chinese government could encourage the use of its own cryptocurrency is through various incentives schemes, including through the  "social credit scores."
Bitcoin price surged by 35% from October 24th to 26th and has since retraced slightly. As of October 28th, the Bitcoin price is $9,663 which is nearly 30% higher than October 24th just prior to Xi's embrace of the blockchain technology.

The past few days have been monumental in the short history of blockchain as China's president Xi Jinping stated that the country should "seize the opportunity of blockchain technology." This was essentially the first time that Xi has praised the merits of the blockchain technology, which resulted in the Bitcoin price exploding higher.
Although the exact timing of the launch of the China government-backed cryptocurrency is not yet known, it could be launched as soon as this winter. It remains to be seen how the Chinese government will seek to regulate Bitcoin and Ethereum as well as its own Chinese government driven cryptocurrency. However, we believe that one of the ways that the Chinese government could encourage the use of its own cryptocurrency is through various incentives schemes, including through the  "social credit scores."
Bitcoin price surged by 35% from October 24th to 26th and has since retraced slightly. As of October 28th, the Bitcoin price is $9,663 which is nearly 30% higher than October 24th just prior to Xi's embrace of the blockchain technology.  

This Week in Blockchain & Cryptos: Xi Jinping Embraces Blockchain & Bitcoin Price Surges Higher

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 weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/go-inc" target="_blank" data-smartkarma-citation="entities:49420:1" rel="noopener">GO (581A JP)</a> and <a href="https://www.smartkarma.com/entities/manipal-health-enterprises-ltd" target="_blank" data-smartkarma-citation="entities:48013:1" rel="noopener">Manipal Health Enterprises Ltd (1217834D IN)</a> are seeking to raise US$737 million and US$1.1 billion, respectively.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com Inc (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/edion-corp" target="_blank" data-smartkarma-citation="entities:14358:1" rel="noopener">Edion Corp (2730 JP)</a>/ <a href="https://www.smartkarma.com/entities/yamada-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada Holdings (9831 JP)</a>, <a href="https://www.smartkarma.com/entities/shinko-shoji-co-ltd" target="_blank" data-smartkarma-citation="entities:2322:1" rel="noopener">Shinko Shoji (8141 JP)</a>, <a href="https://www.smartkarma.com/entities/mgm-china-holdings-limited" target="_blank" data-smartkarma-citation="entities:472:1" rel="noopener">MGM China (2282 HK)</a>, <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a>, <a href="https://www.smartkarma.com/entities/cygnus-metals-limited" target="_blank" data-smartkarma-citation="entities:30504:1" rel="noopener">Cygnus Metals (CY5 AU)</a>. 
</li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: GO (581A JP) and Manipal Health Enterprises Ltd (1217834D IN) are seeking to raise US$737 million and US$1.1 billion, respectively.
Event-Driven developments: Kakaku.com Inc (2371 JP), Edion Corp (2730 JP)/ Yamada Holdings (9831 JP), Shinko Shoji (8141 JP), MGM China (2282 HK), Atlas Arteria (ALX AU), Cygnus Metals (CY5 AU). 



Weekly Deals Digest (07 Jun) - Kakaku, Edion/ Yamada, Shinko Shoji, MGM China, Atlas Arteria, Cygnus

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>I tally xx - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>Two new deal was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/cygnus-metals-limited" target="_blank" data-smartkarma-citation="entities:30504:1" rel="noopener">Cygnus Metals (CY5 AU)</a> and <a href="https://www.smartkarma.com/entities/readytech-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29105:1" rel="noopener">ReadyTech Holdings Ltd (RDY AU)</a>. And <a href="https://www.smartkarma.com/entities/yamada-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada (9831 JP)</a> and <a href="https://www.smartkarma.com/entities/edion-corp" target="_blank" data-smartkarma-citation="entities:14358:1" rel="noopener">Edion (2730 JP)</a>negotiate a Holdco.</li>
<li>Key updates/news also took place on:<a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com (2371 JP)</a>, <a href="https://www.smartkarma.com/entities/humm-group" target="_blank" data-smartkarma-citation="entities:35366:1" rel="noopener">Humm Group (HUM AU)</a>, <a href="https://www.smartkarma.com/entities/ooh-media-ltd" target="_blank" data-smartkarma-citation="entities:8662:1" rel="noopener">oOh!Media Ltd (OML AU)</a>, <a href="https://www.smartkarma.com/entities/tyro-payments-ltd" target="_blank" data-smartkarma-citation="entities:28393:1" rel="noopener">Tyro Payments (TYR AU)</a>, <a href="https://www.smartkarma.com/entities/avarga-limited" target="_blank" data-smartkarma-citation="entities:13105:1" rel="noopener">Avarga (AVARGA SP)</a>, and <a href="https://www.smartkarma.com/entities/magnetic-resources-nl" target="_blank" data-smartkarma-citation="entities:17051:1" rel="noopener">Magnetic Resources Nl (MAU AU)</a>.</li>
</ul>


I tally xx - mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
Two new deal was discussed on Smartkarma this week: Cygnus Metals (CY5 AU) and ReadyTech Holdings Ltd (RDY AU). And Yamada (9831 JP) and Edion (2730 JP)negotiate a Holdco.
Key updates/news also took place on:Kakaku.com (2371 JP), Humm Group (HUM AU), oOh!Media Ltd (OML AU), Tyro Payments (TYR AU), Avarga (AVARGA SP), and Magnetic Resources Nl (MAU AU).


Asia-Pac Weekly Wrap: Kakaku.com, Cygnus Metals, ReadyTech, Humm, OOh!Media, Tyro Payments

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yamada-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:641:1" rel="noopener">Yamada (9831 JP)</a> and <a href="https://www.smartkarma.com/entities/edion-corp" target="_blank" data-smartkarma-citation="entities:14358:1" rel="noopener">Edion Corp (2730 JP)</a>'s MOU to negotiate to form a Holdco,  also means that capital actions to improve shareholder returns are probably dead for a year.</li>
<li>IFM critiques the IE's fair value assessment of <a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a> and extends the offer period; amid minimal tendering. </li>
<li>
<a href="https://www.smartkarma.com/entities/kawasaki-kisen-kaisha-ltd" target="_blank" data-smartkarma-citation="entities:3548:1" rel="noopener">Kawasaki Kisen Kaisha (9107 JP)</a>/KLINE upped their buyback plan from ¥50bn to ¥130bn and started with a big ToSTNeT-3.  Buy on weakness. Longer-term, be long and stay long.</li>
</ul>



Yamada (9831 JP) and Edion Corp (2730 JP)'s MOU to negotiate to form a Holdco,  also means that capital actions to improve shareholder returns are probably dead for a year.
IFM critiques the IE's fair value assessment of Atlas Arteria (ALX AU) and extends the offer period; amid minimal tendering. 

Kawasaki Kisen Kaisha (9107 JP)/KLINE upped their buyback plan from ¥50bn to ¥130bn and started with a big ToSTNeT-3.  Buy on weakness. Longer-term, be long and stay long.


Last Week In Event SPACE: Yamada/Edion, Atlas Arteria, Kawasaki Kisen Kaisha/KLINE, MGM China

Japan

Digital Garage, Inc. is a web solution provider and a business incubator.  The Company provides Internet communications and strategy planning, electronic commerce solution tools, web creation and enhancement, and Internet advertising consulting services.

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Digital Garage (4819 JP)

This Month in Blockchain & Cryptos: Bitcoin Price Rally in 2020, OverFuture's Digital IPO, & Vakt

Both Bitcoin and gold prices are rallying this year and this is probably a sign of a HEDGE against political instability in China, in our view....

Douglas Kim

This Week in Blockchain & Cryptos: Xi Jinping Embraces Blockchain & Bitcoin Price Surges Higher

The past few days have been monumental in the short history of blockchain as China's president Xi Jinping stated that the country should "seize the...

Douglas Kim

Weekly Deals Digest (07 Jun) - Kakaku, Edion/ Yamada, Shinko Shoji, MGM China, Atlas Arteria, Cygnus

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, NZ, Singapore, Japan, Indonesia,...

Arun George

Asia-Pac Weekly Wrap: Kakaku.com, Cygnus Metals, ReadyTech, Humm, OOh!Media, Tyro Payments

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week In Event SPACE: Yamada/Edion, Atlas Arteria, Kawasaki Kisen Kaisha/KLINE, MGM China

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

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