Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I have harped on the fact that <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> has to sell <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> shares with the goal to get 35% tradable shares by end-2025.</li>
<li>I have written about it <a href="https://www.smartkarma.com/insights/gmo-internet-4784-dropdown-holdco-gone-ballistic-squeezed-on-truly-tiny-float" target="_blank" rel="noopener">here</a>, <a href="https://www.smartkarma.com/insights/gmo-internet-4784-offering-this-is-a-ginormous-re-ipo-avoid-like-the-plague" target="_blank" rel="noopener">here</a>, <a href="https://www.smartkarma.com/insights/gmo-internet-4784-squeeze-able-so-squeezing-offering-likely-gets-pulled-avoid-like-the-plague" target="_blank" rel="noopener">here</a>, and <a href="https://www.smartkarma.com/insights/gmo-internet-4784-shares-appear-manipulated-squeezed-again-but-parentco-must-sell" target="_blank" rel="noopener">here</a>. The price needs to be lower so the parent can launch a HUGE block. The stock must be less squeeze-able.</li>
<li>It turns out the parent started selling in the market the day after the Offering was cancelled. The setup is delicious now.</li>
</ul>


I have harped on the fact that GMO Internet Group (9449 JP) has to sell GMO Internet (4784 JP) shares with the goal to get 35% tradable shares by end-2025.
I have written about it here, here, here, and here. The price needs to be lower so the parent can launch a HUGE block. The stock must be less squeeze-able.
It turns out the parent started selling in the market the day after the Offering was cancelled. The setup is delicious now.


GMO Internet (4784) - GMO Internet Parent Has Been SELLING In The Market

David Blennerhassett

<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

<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

<ul>
<li>MBK has made a legally binding bid for <a href="https://www.smartkarma.com/entities/makino-milling-machine-co" target="_blank" data-smartkarma-citation="entities:5200:1" rel="noopener">Makino Milling Machine Co (6135 JP)</a>. Stay long if you still hold or buy the dip. Buy at under ¥11,200.</li>
<li>Given the share price decline, <a href="https://www.smartkarma.com/entities/nufarm-ltd-australia" target="_blank" data-smartkarma-citation="entities:1128:1" rel="noopener">Nufarm (NUF AU)</a>'s board is under pressure to do "something". Nufarm would be better off selling its entire operations, as opposed to offloading divisions.</li>
<li>
<a href="https://www.smartkarma.com/entities/dic-corp" target="_blank" data-smartkarma-citation="entities:7343:1" rel="noopener">Dic Corp (4631 JP)</a> is (also) under pressure from activist Oasis Management. Buy large dips rather than chase another day of a big gain.</li>
</ul>


MBK has made a legally binding bid for Makino Milling Machine Co (6135 JP). Stay long if you still hold or buy the dip. Buy at under ¥11,200.
Given the share price decline, Nufarm (NUF AU)'s board is under pressure to do "something". Nufarm would be better off selling its entire operations, as opposed to offloading divisions.

Dic Corp (4631 JP) is (also) under pressure from activist Oasis Management. Buy large dips rather than chase another day of a big gain.


Last Week in Event SPACE: Makino Milling Machine, Nufarm, Dic Corp, HKBN

<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

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)

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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

Last Week in Event SPACE: Makino Milling Machine, Nufarm, Dic Corp, HKBN

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

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

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Travis Lundy

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