In today’s briefing:
- Great Eastern (GE SP): OCBC Bumps Terms – $30.15/Share Exit Offer
- Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance
- Metaplanet (3350) | Metaplanet’s Treasury Ambition Grows
- Hong Kong Single Stock Options Weekly (June 02 – 06): Broad Gains as Option Activity Fades
- Kaia: The New Frontier for Web3 Mass Onboarding
Great Eastern (GE SP): OCBC Bumps Terms – $30.15/Share Exit Offer
- The prior Offer for Great Eastern Holdings (GE SP) closed on the 12th July 2024, with OCBC holding 93.62%. Shares have been suspended ever since. Compulsory acquisition was not afforded.
- To break the deadlock, I mused in This Needs To Be Sorted: Great Eastern (GE SP)’s Protracted Suspension, that OCBC needed to come out with a improved Offer of ~S$30/share.
- That has now unfolded. Minorities have the option of a S$30.15/share Exit Offer; or voting for the resumption of trading, which will be possible via the issuance of bonus shares.
Top 30 Best Performing Stocks in KOSPI in Past Week and Surging Price of Samsung Life Insurance
- In this insight, we also provide a list of 30 top performing stocks in KOSPI in the past one week (in terms of price performance and trading value).
- We also discuss the surging share price of Samsung Life Insurance which suggests a near-term regulation change that could require the company to partially dispose its stake in Samsung Electronics.
- With Lee Jae-Myung becoming the new South Korean President, the probability of Samsung Life Insurance being forced to sell its stake in Samsung Electronics has risen much more.
Metaplanet (3350) | Metaplanet’s Treasury Ambition Grows
- Metaplanet aims to raise ¥745B via a 555M share issuance to expand its Bitcoin holdings, targeting 100,000 BTC by end-2026.
- The raise implies significant dilution, but rising share prices and strong NISA retail demand could make the capital goal achievable within 12–18 months.
- Early investors benefit structurally from raises above NAV, as Metaplanet evolves into a long-term institutional vehicle for Bitcoin exposure and monetary debasement hedging.
Hong Kong Single Stock Options Weekly (June 02 – 06): Broad Gains as Option Activity Fades
- A weekly roundup of key option and price metrics for Hong Kong single stocks.
- Option volumes on par with the lowest levels seen over the past 6 months.
- Implied volatility appears to have broadly settled around current levels.
Kaia: The New Frontier for Web3 Mass Onboarding
- In August 2024, Klaytn (backed by South Korea’s Kakao) and Finschia (developed by Japan’s LINE Tech Plus) merged to form the Kaia chain, a Layer 1 blockchain aimed at becoming Asia’s leading Web3 ecosystem.
- LINE, the leading messaging app in Japan, Thailand, and Taiwan, boasts approximately 200 million high-value monthly active users, with over 80% penetration in key markets, and is partnering with Kaia to deliver a rich Web3 experience on its platform.
- The key initiative of the Kaia-LINE NEXT partnership to onboard users from Web2 to Web3 is the Mini Dapp ecosystem, which mirrors the Telegram-TON partnership’s Game-Token-DeFi strategy, with the Kaia foundation driving developer engagement
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