ECM Weekly (10th Dec 2023) - Toyota, Denso, Rakuten, Evolution, IRCON, REPT, UBTech, Entero
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
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Denso Corp Placement - Not Quite Shaping up for a Win Yet
On 28th Nov 2023, Toyota (7203 JP) announced that it would sell around 9.4% of Denso (6902 JP) in order to reduce its cross-shareholding. In this...
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Harmonic Drive Placement - Cleanup Share Sale Will Remove the Overhang
Toyota Motor (7203 JP) is looking to raise US$116m from selling its entire stake in Harmonic Drive Systems (6324 JP). Toyota Motors will be selling...
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Toyota To Sell Harmonic Drive (6324 JP) Shares in Overseas Offering
Toyota is selling a US$125mm stake in Harmonic Drive Systems. That's 4.55%. Not overwhelming but it will increase the ownership of the target...
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Nabtesco and Harmonic Drive - The Second Half of Splitsville So Pressure to Continue
Nabtesco (6268) is selling the other half of its original stake in Harmonic Drive Systems (6324). The sale is a big part of Real World Float. HDS...
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