In today’s briefing:
- Imminent Block Deals Involving Hanmi Science Shares Due to Inheritance Tax Payments
- Tietto Minerals (TIE AU): Zhaojin’s Revised and Final Takeover Offer Remains Light
- Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition
- Kokusai Electric IPO Lock-Up – KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait
Imminent Block Deals Involving Hanmi Science Shares Due to Inheritance Tax Payments
- The local market anxiously awaits the family’s ability to pay by early May. Failure could prompt the Tax Service to sell their pledged stocks, including Hanmi Science shares.
- Preventing Tax Service from selling Hanmi Science shares requires additional collateral, unlikely due to existing pledges. Rumor suggests mother and daughter may sell shares before May, followed by Tax Service.
- Given negotiation uncertainty with KKR, it’s crucial to prepare for potential failure rather than solely relying on success, necessitating a pragmatic approach.
Tietto Minerals (TIE AU): Zhaojin’s Revised and Final Takeover Offer Remains Light
- Tietto Minerals Ltd (TIE AU) has disclosed a revised conditional proposal from Zhaojin Mining Industry H (1818 HK) at A$0.68 per share, a 17.2% premium to the previous offer of A$0.58.
- The offer is conditional on a 50.1% minimum acceptance condition (which can be waived). The offer is declared best and final.
- Despite the bump, the offer is below the IE’s valuation range of A$0.79 to A$0.93 per share. The IE’s valuation range would be around 25% higher at current gold prices.
Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition
- NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
- In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY Next 50 indices in the September 2024 rebalance.
- There could be at least one change for NIFTY 50 and separately, there could be up to five changes for NIFTY Next 50.
Kokusai Electric IPO Lock-Up – KKR Will Be Tempted by the US$2.7bn Release but Might Have to Wait
- KKR raised around US$730m via selling some stake in Kokusai Electric (6525 JP) Japan IPO in Sep 2023. Its remaining stake will be released from its IPO linked lockup soon.
- KE main business activities consist of the manufacturing, sales and maintenance service of semiconductor manufacturing equipment.
- In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
