Smartkarma Daily Briefs

• With 3 days left in the review period, Fast Retailing (9983 JP) has a 11.29% weight in the Nikkei 225 (NKY INDEX). That means double capping in March.
• If Fast Retailing (9983 JP) underperforms the other index stocks by 1.8% from now to the close on 31 January, there will only be a single level of capping.
• Double capping will result in big selling on Fast Retailing (9983 JP) and big inflows into the other index constituents. Smaller impact for single level capping.

• Back in March of last year, Bloomberg reported,that Renaldo Santosa and his family, who collectively controlled ~75.5% of agri-play Japfa Ltd (JAP SP), were considering taking Japfa private.
• This was discussed in Japfa (JAP SP): Impressive Gain. But No Firm Offer. Then crickets. 
• The family has now pitched an Offer of S$0.62/share, by way of  a Scheme, a 34.8% premium to undisturbed. That’s probably enough to get this over the line. 

• On the 27th January, Dada Nexus (DADA US), a Chinese on-demand retail and delivery platform, announced a preliminary non-binding proposal from JD.com (9618 HK).
• JD.com, a 63.2% shareholder, is offering US$0.50/share (US$2.00/ADS), a 42% premium to last close. Should a definitive agreement be inked, this is done. 
• DADA has formed a committee to evaluate the proposal. The risk to the trade, as with many US-listed China plays, is one of timing. Trading at a 11.1% gross spread.

• The company  priced a downsized transaction of 26.08mm shares (down from 34.8mm) at $20.00 (original range $23-$27) and opened at $21.05 for a gain of 5.3% at first trade.
• A broken IPO usually hurts the psyche of the IPO market in the short term.
• The healthcare space will be looking to give IPOs a boost during the second half of the week with much stronger deals set to debut.

• Ather Energy is looking to raise about US$536m in its upcoming India IPO. 
• Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.
• In this note, we talk about the positive aspects of the deal.

• Tripadvisor has been a frequent subject of acquisition speculation, with the latest developments adding fuel to the fire.
• Liberty TripAdvisor Holdings (OTCQB:LTRPA, LTRPB) recently disclosed a proposal from an undisclosed “Party 7” to acquire Tripadvisor and Liberty TripAdvisor.
• The bid, initially offered at $17.50 per share in October 2024, was later revised to $18-$19 per share in January 2025, representing a 14-21% premium over the current stock price.

• United Breweries resumed beer supplies in Telangana after earlier suspending them due to unprofitable pricing and unpaid dues.
• Resolution ensures vital revenues for both state and brewery, while highlighting persistent regulatory and pricing hurdles in India’s top beer market.
• This standoff reveals the leverage breweries hold in regulated regions, where strategic halts can push authorities toward fairer policies and improved business conditions.

• We are reiterating our Buy rating, $58 price target and projections for Build-A-Bear Workshop after visiting stores in Connecticut and Long Island.
• We believe momentum (and full price, gift card driven selling) remained strong post Xmas and that the company has successfully pivoted to the key Valentine’s Day holiday with compelling newness and product excitement, driven by new offerings and services.
• As such, we view Build-A-Bear as a key Holiday winner and reiterate our Buy rating and $58 price target for BBW.

• Sacks Parente Golf (NASDAQ: SPGC) is an innovative, technology driven golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories.
• The company went public in August 2023 raising $11.6 million in net proceeds.
• The company announced its entry into the golf shaft market in November 2023.

• The Brighton Pier Group Plc operates through four divisions: Brighton Palace Pier, Paradise Island Adventure Golf, Eclectic Bars, and Lightwater Valley Adventure.
• The Pier, established in the late 1800s, attracts over four million visitors annually and generates revenue through attractions, gaming machines, funfair rides, and food and beverage offerings.
• The Pier historically contributes over 40% of group revenue and EBITDA, with all upkeep costs recorded as operating expenses.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.