Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Capital Markets

<ul>
<li>On Friday 2 October, just three business days before the TSE announces the restructuring of the TOPIX Index which would <em>not</em> include it, <a href="https://www.smartkarma.com/entities/hennge-kk" target="_blank" data-smartkarma-citation="entities:29241:1" rel="noopener">Hennge KK (4475 JP)</a> squeezes in.</li>
<li>To effect that inclusion, the company has announced a secondary equity offering where three of the top four execs (all with the company nearly 30yrs) are selling 1.75mm shares and... </li>
<li>...there is a new share offering of 1.1mm shares. Total should be about US$30mm. 5x ADV. ~9% of shares out. Supply/demand dynamics are interesting. The stock is not cheap.</li>
</ul>


On Friday 2 October, just three business days before the TSE announces the restructuring of the TOPIX Index which would not include it, Hennge KK (4475 JP) squeezes in.
To effect that inclusion, the company has announced a secondary equity offering where three of the top four execs (all with the company nearly 30yrs) are selling 1.75mm shares and... 
...there is a new share offering of 1.1mm shares. Total should be about US$30mm. 5x ADV. ~9% of shares out. Supply/demand dynamics are interesting. The stock is not cheap.


[Japan Offering] IDaaS Provider Hennge (4475 JP) Announces Offering For Last Minute TOPIX Entry

Japan

Hennge K.K. engages in software as a services business. The Company provides identity as a service, access control, secure browse, mail archive, secure transfer, customers mail cloud, mail application server, and other services. Hennge serves customers throughout Asia.

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[Japan Offering] IDaaS Provider Hennge (4475 JP) Announces Offering For Last Minute TOPIX Entry

Hennge started the process to move to TSE Prime 1yr ago. They will get in JUST under the wire. Days. If this had been delayed a week, they wouldn't...

Travis Lundy