Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 50 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Three new deals discussed this week: <a href="https://www.smartkarma.com/entities/fancl-corp" target="_blank" data-smartkarma-citation="entities:15862:1" rel="noopener">Fancl (4921 JP)</a>'s Tender offer, <a href="https://www.smartkarma.com/entities/a8-new-media-group-ltd" target="_blank" data-smartkarma-citation="entities:3444:1" rel="noopener">A8 New Media (800 HK)</a>'s Scheme, and <a href="https://www.smartkarma.com/entities/jeisys-medical-inc" target="_blank" data-smartkarma-citation="entities:36766:1" rel="noopener">Jeisys Medical (287410 KS)</a>'s delisting offer. Bain also approached <a href="https://www.smartkarma.com/entities/bapcor-ltd" target="_blank" data-smartkarma-citation="entities:8433:1" rel="noopener">Bapcor (BAP AU)</a>.</li>
<li>Key updates took place on: <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a>, <a href="https://www.smartkarma.com/entities/alumina-ltd" target="_blank" data-smartkarma-citation="entities:939:1" rel="noopener">Alumina (AWC AU)</a>, <a href="https://www.smartkarma.com/entities/greatview-aseptic-packaging" target="_blank" data-smartkarma-citation="entities:10802:1" rel="noopener">Greatview Aseptic Packaging (468 HK)</a>, <a href="https://www.smartkarma.com/entities/helios-techno-holding-co-ltd" target="_blank" data-smartkarma-citation="entities:13934:1" rel="noopener">Helios Techno (6927 JP)</a>, and <a href="https://www.smartkarma.com/entities/tatsuta-electric-wire-cable-co-ltd" target="_blank" data-smartkarma-citation="entities:12509:1" rel="noopener">Tatsuta Electric Wire &amp; Cable (5809 JP)</a>.</li>
</ul>


I tally 50 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three new deals discussed this week: Fancl (4921 JP)'s Tender offer, A8 New Media (800 HK)'s Scheme, and Jeisys Medical (287410 KS)'s delisting offer. Bain also approached Bapcor (BAP AU).
Key updates took place on: Sigma Healthcare (SIG AU), Alumina (AWC AU), Greatview Aseptic Packaging (468 HK), Helios Techno (6927 JP), and Tatsuta Electric Wire &amp; Cable (5809 JP).


(Mostly) Asia-Pac M&A: Fancl, Jeisys Medical, A8 New Media, Bapcor, Helios Techno,Tatsuta Electric

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jeisys-medical-inc" target="_blank" data-smartkarma-citation="entities:36766:1" rel="noopener">Jeisys Medical (287410 KS)</a> recorded 15% YoY revenue growth in 1Q23, mainly driven by a 25% YoY growth in consumables due to the increasing number of aesthetic procedures globally.</li>
<li>As of 1Q23, cumulative sales of two major devices of Jeisys, LinearFirm/LinearZ and Potenza reached 3,411 and 2,431 units, respectively. Expanding installed base should further drive consumables revenue growth.</li>
<li>Jeisys has launched a new device in domestic market and Japan in current quarter. The company aims to accelerate growth momentum through entry in to new market, including China.</li>
</ul>



Jeisys Medical (287410 KS) recorded 15% YoY revenue growth in 1Q23, mainly driven by a 25% YoY growth in consumables due to the increasing number of aesthetic procedures globally.
As of 1Q23, cumulative sales of two major devices of Jeisys, LinearFirm/LinearZ and Potenza reached 3,411 and 2,431 units, respectively. Expanding installed base should further drive consumables revenue growth.
Jeisys has launched a new device in domestic market and Japan in current quarter. The company aims to accelerate growth momentum through entry in to new market, including China.


Jeisys Medical (287410 KS): Solid Q1 Result; New Product Launch and China Expansion to Drive Growth

<ul>
<li>On the<a href="https://www.bdapartners.com/transaction/bda-advises-praxis-on-sale-of-businesson-to-skylake/" target="_blank" rel="noopener"> 25th July</a>, SkyLake Equity Partners acquired a 46.9% stake from Praxis Capital Partners in <a href="https://www.smartkarma.com/entities/businesson-communication-co-ltd" target="_blank" data-smartkarma-citation="entities:26040:1" rel="noopener">BusinessOn Communication (138580 KS)</a>, Korea’s leading B2B SaaS company; plus 24.3% from BusinessOn's management. </li>
<li>SkyLake has now launched a Tender Offer for 28.94% of BusinessOn. The Tender offer price is ₩15,849/share.</li>
<li>Super clean deal. SkyLake will acquire all shares tendered. There is no minimum tendering % condition. </li>
</ul>


On the 25th July, SkyLake Equity Partners acquired a 46.9% stake from Praxis Capital Partners in BusinessOn Communication (138580 KS), Korea’s leading B2B SaaS company; plus 24.3% from BusinessOn's management. 
SkyLake has now launched a Tender Offer for 28.94% of BusinessOn. The Tender offer price is ₩15,849/share.
Super clean deal. SkyLake will acquire all shares tendered. There is no minimum tendering % condition. 


BusinessOn Communication (138580 KS): SkyLake's Delisting Offer

<ul>
<li>VIG Partners, a PE-outfit, is seeking to delist <a href="https://www.smartkarma.com/entities/viol-co-ltd" target="_blank" data-smartkarma-citation="entities:41010:1" rel="noopener">VIOL (335890 KS)</a>, an aesthetic medical devices manufacturer, whose major shareholder, <a href="https://www.smartkarma.com/entities/dms-co-ltd" target="_blank" data-smartkarma-citation="entities:2132:1" rel="noopener">DMS (068790 KS)</a>, faces allegations of unfair internal transactions.</li>
<li>VIG first acquired 7% of <a href="https://www.smartkarma.com/entities/dms-co-ltd" target="_blank" data-smartkarma-citation="entities:2132:1" rel="noopener">DMS (068790 KS)</a>’s 34.76% controlling stake in VIOL, following which, DMS contributed the remaining 27.76% in-kind to VIG's SPV at a valuation of ₩12,500/share.</li>
<li>VIG’s SPV's tender offer launched on 18th June, also at ₩12,500/share, and runs until the 7th July 7. The Offer is conditional on a minimum acceptance threshold of 20.76%.</li>
</ul>


VIG Partners, a PE-outfit, is seeking to delist VIOL (335890 KS), an aesthetic medical devices manufacturer, whose major shareholder, DMS (068790 KS), faces allegations of unfair internal transactions.
VIG first acquired 7% of DMS (068790 KS)’s 34.76% controlling stake in VIOL, following which, DMS contributed the remaining 27.76% in-kind to VIG's SPV at a valuation of ₩12,500/share.
VIG’s SPV's tender offer launched on 18th June, also at ₩12,500/share, and runs until the 7th July 7. The Offer is conditional on a minimum acceptance threshold of 20.76%.


VIOL (335890 KS): VIG Partners' Tender Offer And DMS' Strategic Exit

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>This insight provides an updated progress on the tender offer and delisting of VIOL (335890 KS). The tender offer period lasts from 18 June to 7 July 2025.</li>
<li>Through this tender offer, VIG Partners plans to acquire full management rights of Viol and also take it private.</li>
<li>If the number of shares offered for the tender offer reaches the maximum target, SPC will secure a 98.84% stake in Viol.</li>
</ul>


This insight provides an updated progress on the tender offer and delisting of VIOL (335890 KS). The tender offer period lasts from 18 June to 7 July 2025.
Through this tender offer, VIG Partners plans to acquire full management rights of Viol and also take it private.
If the number of shares offered for the tender offer reaches the maximum target, SPC will secure a 98.84% stake in Viol.


An Updated Progress on the Tender Offer and Delisting of Viol By VIG Partners

South Korea

Jeisys Medical Inc. operates medical device manufacturing businesses. The Company produces diagnostic devices, earpieces, rehabilitation devices, and other medical devices. Jeisys Medical conducts businesses in South Korea.

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Jeisys Medical (287410 KS)

(Mostly) Asia-Pac M&A: Fancl, Jeisys Medical, A8 New Media, Bapcor, Helios Techno,Tatsuta Electric

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