SBI Sumishin Net Bank (7163 JP): NTT’s (9432 JP) JPY4,900 Tender Offer a Done Deal
Irrevocables from the two largest shareholders ensure a done deal. The offer is attractive compared to historical trading ranges and peer multiples.
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EM Neobanks – Pairs Trade; Long Inter and Short Nubank
Brazilian neobanks present compelling opportunities, with Inter recommended as a long and Nubank as a short based on their weighted scorecard...
330 Views
ECM Weekly (26 May 2025) - CATL, Hengrui, Eastroc, Haitian, Schloss, Aegis, Hyundai Marine, Pony
Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
473 Views
HD Hyundai Marine Placement - Very Well Flagged, Overhang Easing but Last Deal Didn’t Do Well
KKR is looking to raise around US$410m via selling some of its stake in HD Hyundai Marine Solution (443060 KS). In this note, we talk about the...
479 Views
Korea's Large Banks & Hanwah Ocean - Credit Reversals or Overhang?
News of ~USD740m placement, insight by Brian Freitas on this capital increase, it is a timely reminder of core credit metrics and concern for...
611 Views