Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gmo-internet-inc-919fd60b-ad2a-4c5f-b333-167a849b67b0" target="_blank" data-smartkarma-citation="entities:9029:1" rel="noopener">GMO Internet (4784 JP)</a> stays listed if/when <a href="https://www.smartkarma.com/entities/gmo-internet-group-inc" target="_blank" data-smartkarma-citation="entities:13631:1" rel="noopener">GMO Internet Group (9449 JP)</a> sells (a lot of) shares. Yet 4784 remains stubbornly - manipulated (?) - at nosebleed valuations. </li>
<li>Preceding my comments on the GMO group - and <a href="https://www.smartkarma.com/entities/dah-sing-financial-holdings" target="_blank" data-smartkarma-citation="entities:589:1" rel="noopener">Dah Sing Financial (440 HK)</a> and <a href="https://www.smartkarma.com/entities/axiata-group-berhad" target="_blank" data-smartkarma-citation="entities:944:1" rel="noopener">Axiata Group (AXIATA MK)</a> - are the current setup/unwind tables for Asia-Pacific Holdcos</li>
<li>Hese relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



GMO Internet (4784 JP) stays listed if/when GMO Internet Group (9449 JP) sells (a lot of) shares. Yet 4784 remains stubbornly - manipulated (?) - at nosebleed valuations. 
Preceding my comments on the GMO group - and Dah Sing Financial (440 HK) and Axiata Group (AXIATA MK) - are the current setup/unwind tables for Asia-Pacific Holdcos
Hese relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Absent Borrow, GMO Internet (4784) Is An Avoid

Travis Lundy

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gmo-internet-inc-919fd60b-ad2a-4c5f-b333-167a849b67b0" target="_blank" data-smartkarma-citation="entities:9029:1" rel="noopener">GMO Internet (4784 JP)</a> was squeezed after a merger which was a Reverse Takeover followed by a ridiculous TOPIX inclusion. Then the parent tried an offering, which failed. </li>
<li>The clearing price demanded was WAAAY lower so the offering was pulled. Shares fell 70%, then bounced 65%. Now 48x book and 66x EBITDA for an ISP. Super expensive. Manipulated.</li>
<li>ParentCo needs to sell 90mm shares ASAP. The only clean way is through a liquidation trust to get shares lower before a larger offering.</li>
</ul>



GMO Internet (4784 JP) was squeezed after a merger which was a Reverse Takeover followed by a ridiculous TOPIX inclusion. Then the parent tried an offering, which failed. 
The clearing price demanded was WAAAY lower so the offering was pulled. Shares fell 70%, then bounced 65%. Now 48x book and 66x EBITDA for an ISP. Super expensive. Manipulated.
ParentCo needs to sell 90mm shares ASAP. The only clean way is through a liquidation trust to get shares lower before a larger offering.


GMO Internet (4784) - Shares Appear Manipulated/Squeezed (Again), but ParentCo MUST SELL

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gmo-internet-inc-919fd60b-ad2a-4c5f-b333-167a849b67b0" target="_blank" data-smartkarma-citation="entities:9029:1" rel="noopener">GMO Internet (4784 JP)</a> was created by the reverse takeover of a listed cad/media company by its parent company's "internet infrastructure" business. GMO Internet Group ended up with ~98%.</li>
<li>In the process, the stock rose 500%. Now, as part of its promise to the TSE allowing TSE Prime membership for the extraordinarily low-float target, the parent is offering shares.</li>
<li>The squeeze has it at 180x Dec25e EPS, 111x EBIT, 70x book. The offering likely gets pulled and the stock isn't shortable... so what next? Pain, and an ECLWO.</li>
</ul>



GMO Internet (4784 JP) was created by the reverse takeover of a listed cad/media company by its parent company's "internet infrastructure" business. GMO Internet Group ended up with ~98%.
In the process, the stock rose 500%. Now, as part of its promise to the TSE allowing TSE Prime membership for the extraordinarily low-float target, the parent is offering shares.
The squeeze has it at 180x Dec25e EPS, 111x EBIT, 70x book. The offering likely gets pulled and the stock isn't shortable... so what next? Pain, and an ECLWO.


GMO Internet (4784) - Squeeze-Able So Squeezing, Offering Likely Gets Pulled - AVOID LIKE THE PLAGUE

<ul>
<li>Today after the close, <a href="https://www.smartkarma.com/entities/gmo-internet-group-inc" target="_blank" data-smartkarma-citation="entities:13631:1" rel="noopener">GMO Internet Group (9449 JP)</a> subsidiary <a href="https://www.smartkarma.com/entities/gmo-payment-gateway-inc" target="_blank" data-smartkarma-citation="entities:1492:1" rel="noopener">GMO Payment Gateway (3769 JP)</a> announced its subsidiary <a href="https://www.smartkarma.com/entities/gmo-financial-gate-inc" target="_blank" data-smartkarma-citation="entities:35234:1" rel="noopener">GMO Financial Gate (4051 JP)</a> would move to TSE Prime 5 June.</li>
<li>That means it moves to TOPIX at the close of trading 30 July 2025.</li>
<li>This growth stock appears to have "de-growthed" somewhat in stock price terms - trading near its IPO price from covid era, so it is worth a look.</li>
</ul>


Today after the close, GMO Internet Group (9449 JP) subsidiary GMO Payment Gateway (3769 JP) announced its subsidiary GMO Financial Gate (4051 JP) would move to TSE Prime 5 June.
That means it moves to TOPIX at the close of trading 30 July 2025.
This growth stock appears to have "de-growthed" somewhat in stock price terms - trading near its IPO price from covid era, so it is worth a look.


[Quiddity Index] GMO (9449) Sub GMO Financial Gate (4051) Moves to TOPIX

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gmo-ad-partners-inc" target="_blank" data-smartkarma-citation="entities:9029:1" rel="noopener">Gmo Ad Partners (4784 JP)</a> has become GMO Internet as of 1 January 2025. On that day, it merged with the "internet infrastructure business" of <a href="https://www.smartkarma.com/entities/gmo-internet-inc" target="_blank" data-smartkarma-citation="entities:13631:1" rel="noopener">GMO Internet (9449 JP)</a>. </li>
<li>It was a kind of reverse takeover - a backdoor listing - and it on 24-Dec-2024, it was announced GMO Internet would move from TSE Standard to TSE Prime end-Jan2025.</li>
<li>The stock is +300% since then. Why? A squeeze. Share count increase? 15x. Float share increase? Zero. Resulting Real World Float? 1.24% of shares out and about to shrink.</li>
</ul>



Gmo Ad Partners (4784 JP) has become GMO Internet as of 1 January 2025. On that day, it merged with the "internet infrastructure business" of GMO Internet (9449 JP). 
It was a kind of reverse takeover - a backdoor listing - and it on 24-Dec-2024, it was announced GMO Internet would move from TSE Standard to TSE Prime end-Jan2025.
The stock is +300% since then. Why? A squeeze. Share count increase? 15x. Float share increase? Zero. Resulting Real World Float? 1.24% of shares out and about to shrink.


GMO Internet (4784) DropDown Holdco Gone Ballistic - Squeezed on Truly Tiny Float

Japan

GMO Internet Group, Inc. provides internet related services to its corporate customers. The company offers domain, server, security and settlement services through its "WEB Infrastructure & EC" business, and assists companies in attracting web users through its "Internet Media" business. GMO Internet Group conducts businesses in Japan.

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GMO Internet Group (9449 JP)

StubWorld: Absent Borrow, GMO Internet (4784) Is An Avoid

The trade is simple - avoid GMO Internet (4784 JP). Or take down borrow, where possible, for the persistent few who are up to the challenge.

David Blennerhassett

GMO Internet (4784) - Shares Appear Manipulated/Squeezed (Again), but ParentCo MUST SELL

GMO Internet was manipulated higher this spring, then an offering failed, and the stock fell 70%. It is bouncing again. But the stock NEEDS to fall...

Travis Lundy

GMO Internet (4784) - Squeeze-Able So Squeezing, Offering Likely Gets Pulled - AVOID LIKE THE PLAGUE

Re-boomeranging this. Since I wrote, the stock is down more than 40%. The shares have now broken ¥2,000/share. We still have an additional 50% to...

Travis Lundy

[Quiddity Index] GMO (9449) Sub GMO Financial Gate (4051) Moves to TOPIX

GMO Group subsidiary GMO Financial Gate - which provides cashless payment infra - will move to TSE Prime next week, which means moving to TOPIX at...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

StubWorld: Absent Borrow, GMO Internet (4784) Is An Avoid

The trade is simple - avoid GMO Internet (4784 JP). Or take down borrow, where possible, for the persistent few who are up to the challenge.

David Blennerhassett

GMO Internet (4784) - Shares Appear Manipulated/Squeezed (Again), but ParentCo MUST SELL

GMO Internet was manipulated higher this spring, then an offering failed, and the stock fell 70%. It is bouncing again. But the stock NEEDS to fall...

Travis Lundy

GMO Internet (4784) - Squeeze-Able So Squeezing, Offering Likely Gets Pulled - AVOID LIKE THE PLAGUE

Re-boomeranging this. Since I wrote, the stock is down more than 40%. The shares have now broken ¥2,000/share. We still have an additional 50% to...

Travis Lundy

[Quiddity Index] GMO (9449) Sub GMO Financial Gate (4051) Moves to TOPIX

GMO Group subsidiary GMO Financial Gate - which provides cashless payment infra - will move to TSE Prime next week, which means moving to TOPIX at...

Travis Lundy

GMO Internet (4784) DropDown Holdco Gone Ballistic - Squeezed on Truly Tiny Float

GMO Internet is the old GMO Ad Partners with a reverse takeover executed as of Jan 1. Float now is low. The company sees it as 1.44%. It's lower...

Travis Lundy