Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Adobe rival <a href="https://www.smartkarma.com/entities/nitro-software-ltd" target="_blank" data-smartkarma-citation="entities:30943:1" rel="noopener">Nitro Software Ltd (NTO AU)</a> has rejected a A$1.58/share cash Offer from Potentia Capital. </li>
<li>Nitro considers the proposal to be highly opportunistic and comes at a time of significant share market volatility and cyclical weakness in global technology company valuations.</li>
<li>Separately, Potentia has acquired a 17% interest in Nitro. They are not done yet.</li>
</ul>


Adobe rival Nitro Software Ltd (NTO AU) has rejected a A$1.58/share cash Offer from Potentia Capital. 
Nitro considers the proposal to be highly opportunistic and comes at a time of significant share market volatility and cyclical weakness in global technology company valuations.
Separately, Potentia has acquired a 17% interest in Nitro. They are not done yet.


Nitro Software Rejects Potentia's Proposal

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments - <a href="https://www.smartkarma.com/entities/china-tourism-group-duty-free-corp-ltd" target="_blank" data-smartkarma-citation="entities:12278:1" rel="noopener">China Tourism Group Duty Free Corp Ltd (601888 CH)</a> H Share's flat debut, <a href="https://www.smartkarma.com/entities/zhejiang-leapmotor-technology" target="_blank" data-smartkarma-citation="entities:35968:1" rel="noopener">Leapmotor (2007699D HK)</a>'s listing approval for a US$1.5 billion HKEx IPO.</li>
<li>Event-Driven developments - <a href="https://www.smartkarma.com/entities/ramsay-health-care-ltd" target="_blank" data-smartkarma-citation="entities:673:1" rel="noopener">Ramsay Health Care (RHC AU)</a>, <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a>, <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a>, <a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a>, <a href="https://www.smartkarma.com/entities/infomedia-ltd" target="_blank" data-smartkarma-citation="entities:11385:1" rel="noopener">Infomedia Ltd (IFM AU)</a>, <a href="https://www.smartkarma.com/entities/maca-ltd" target="_blank" data-smartkarma-citation="entities:11390:1" rel="noopener">MACA Ltd (MLD AU)</a>, DTAC/True </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments - China Tourism Group Duty Free Corp Ltd (601888 CH) H Share's flat debut, Leapmotor (2007699D HK)'s listing approval for a US$1.5 billion HKEx IPO.
Event-Driven developments - Ramsay Health Care (RHC AU), Pendal Group (PDL AU), Link Administration (LNK AU), Nearmap Ltd (NEA AU), Infomedia Ltd (IFM AU), MACA Ltd (MLD AU), DTAC/True 


Weekly Deals Digest (28 Aug) - Leapmotor, DTAC/True, Ramsay, Pendal, Link Admin, Infomedia, ResApp

<ul>
<li>It was a curious thing <a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a> agreeing to pay Thoma Bravo up to US$3mn if a transaction agreement did not result. Unless negotiations were well advanced.  </li>
<li>Mapping technology outfit Nearmap's board has now unanimously backed Thoma Bravo's A$2.10/share Offer by way of a Scheme of Arrangement. </li>
<li>This is a done deal and accordingly, trading tight to terms.</li>
</ul>


It was a curious thing Nearmap Ltd (NEA AU) agreeing to pay Thoma Bravo up to US$3mn if a transaction agreement did not result. Unless negotiations were well advanced.  
Mapping technology outfit Nearmap's board has now unanimously backed Thoma Bravo's A$2.10/share Offer by way of a Scheme of Arrangement. 
This is a done deal and accordingly, trading tight to terms.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a> entered a scheme implementation deed (SID) with Thoma Bravo at A$2.10 per share, a 39.1% premium to the undisturbed price.</li>
<li>The offer price is attractive. The key conditions are shareholders and regulatory (FIRB &amp; US antitrust) approvals. The scheme meeting is in November. </li>
<li>At last close and for the end of November payment, the gross and annualised spread to the offer is 1.4% and 5.2%, respectively.</li>
</ul>



Nearmap Ltd (NEA AU) entered a scheme implementation deed (SID) with Thoma Bravo at A$2.10 per share, a 39.1% premium to the undisturbed price.
The offer price is attractive. The key conditions are shareholders and regulatory (FIRB &amp; US antitrust) approvals. The scheme meeting is in November. 
At last close and for the end of November payment, the gross and annualised spread to the offer is 1.4% and 5.2%, respectively.


Nearmap Enters a SID with Thoma Bravo at A$2.10

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments - <a href="https://www.smartkarma.com/entities/china-tourism-group-duty-free-corporation-limited" target="_blank" data-smartkarma-citation="entities:36229:1" rel="noopener">China Tourism Group Duty Free Corp Ltd (1880 HK)</a> priced its H Share at HK$158, <a href="https://www.smartkarma.com/entities/wcp-co-ltd" target="_blank" data-smartkarma-citation="entities:36076:1" rel="noopener">WCP (WCP KS)</a> issued an updated prospectus.</li>
<li>Event-Driven developments <a href="https://www.smartkarma.com/entities/alliance-aviation-services-ltd" target="_blank" data-smartkarma-citation="entities:20401:1" rel="noopener">Alliance Aviation Services (AQZ AU)</a>, <a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a>, <a href="https://www.smartkarma.com/entities/tassal-group-ltd" target="_blank" data-smartkarma-citation="entities:16234:1" rel="noopener">Tassal (TGR AU)</a>, <a href="https://www.smartkarma.com/entities/genex-power-ltd" target="_blank" data-smartkarma-citation="entities:29079:1" rel="noopener">Genex Power Ltd (GNX AU)</a>, <a href="https://www.smartkarma.com/entities/yashili-international-holdings-ltd" target="_blank" data-smartkarma-citation="entities:3397:1" rel="noopener">Yashili International Holdings (1230 HK)</a>, <a href="https://www.smartkarma.com/entities/xiamen-international-port-h" target="_blank" data-smartkarma-citation="entities:5390:1" rel="noopener">Xiamen International Port H (3378 HK)</a>.</li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments - China Tourism Group Duty Free Corp Ltd (1880 HK) priced its H Share at HK$158, WCP (WCP KS) issued an updated prospectus.
Event-Driven developments Alliance Aviation Services (AQZ AU), Nearmap Ltd (NEA AU), Tassal (TGR AU), Genex Power Ltd (GNX AU), Yashili International Holdings (1230 HK), Xiamen International Port H (3378 HK).


Weekly Deals Digest (21 Aug) - CTGDF, Frasers Hospitality, Nearmap, Alliance, Tassal, Yashili

Australia

Nearmap Ltd is involved in the geospatial (mapping) market. The Company supports the government and corporate customers through its online based mapping content.

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Nearmap Ltd (NEA AU)

Nitro Software Rejects Potentia's Proposal

This proposal is Potentia's opening salvo. Nitro flagged the median broker target price of A$1.95 and the 12-month VWAP price of A$1.93. Expect...

David Blennerhassett

Weekly Deals Digest (28 Aug) - Leapmotor, DTAC/True, Ramsay, Pendal, Link Admin, Infomedia, ResApp

Last week, notable developments occurred in Event-Driven (DTAC/True, Ramsay, Pendal, Link Admin, ResApp, Infomedia, Nearmap, MACA, Lifestyle) and...

Arun George

Nearmap Inks Scheme With Thoma Bravo

Nearmap (NEA AU) is trading tight at a 1.4%/5.4% gross/annualised spread assuming late November completion. This is a done deal.

David Blennerhassett

Nearmap Enters a SID with Thoma Bravo at A$2.10

The offer price is attractive. At last close and for the end of November payment, the annualised spread to the offer is 5.2%.

Arun George

Weekly Deals Digest (21 Aug) - CTGDF, Frasers Hospitality, Nearmap, Alliance, Tassal, Yashili

Last week, notable developments occurred in Event-Driven (Alliance, Genex, MACA, Nearmap, PTB, Nearmap, Tassal, Giordano, Xiamen Port, Yashili,...

Arun George

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