In today’s briefing:
- What Did FSS Point Out to Shift Up? & What Impact Would It Have on Bookbuilding Sentiment?
- Affinity Equity Partners Seeking Delisting of Lock & Lock Through Comprehensive Stock Exchange
What Did FSS Point Out to Shift Up? & What Impact Would It Have on Bookbuilding Sentiment?
- FSS wants Nikke’s MAU data to address revenue concerns. They also seek April and May sales data for Stellar Blade to address valuation concerns despite its recent launch.
- Shift Up updated the prospectus with Nikke’s increasing MAU data but didn’t include Stellar Blade sales data. FSS may request further revisions, possibly delaying the IPO again.
- Nikke’s MAU has risen but plateaued versus the previous quarter, and uncertainty surrounds Stellar Blade’s April-May sales, potentially impacting IPO pricing.
Affinity Equity Partners Seeking Delisting of Lock & Lock Through Comprehensive Stock Exchange
- On 5 June, Affinity Equity Partners (AEP) announced that it is seeking a delisting of Lock&Lock (115390 KS) shares through a comprehensive stock exchange.
- It has been reported that the second tender offer failed. Only 1.5% of the outstanding shares participated in the second tender offer, falling short of the 9.5% participation required.
- Affinity plans to transfer the shares of Lock&Lock held by an overseas corporation to a domestic corporation (investment-in-kind) and then go through a comprehensive stock exchange procedure.
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