L’Occitane (973 HK): Share Alternative a Crucial Step Towards the Offer Being Declared Unconditional
An attractive offer and the share alternative facilitate meeting the 90% minimum acceptance condition. This looks like a done deal. At the current...
107 Views
LG H&H - A Key Beneficiary of the Return of Chinese Group Tours to Korea
We expect LG H&H to generate 1 trillion won or more in operating profit in 2024 and 2025, which would be 20-25%+ higher than current consensus...
337 Views
Consumer Staples: EM Managers Positioned at All-Time Lows
Consumer Staples allocations have fallen to their lowest levels in over a decade. A 5-year decline in Consumer Staples exposure was compounded by...
729 Views
Fancl (4921 JP): Kirin (2503 JP)’s Light JPY2,690 Tender Offer
The timing is opportunistic. While the offer is attractive compared to peer multiples, it is light compared to historical trading ranges. Securing...
277 Views
China to Finally Allow Group Tours to Korea and Japan?
The group tours from China to South Korea which has been banned since March 2017, are expected to resume after six years, according to the Korean...
368 Views