In today’s briefing:
- New Pricing Rule for Appraisal Rights in ECO: Potential Arb Openings in DB Hitek
- Meta Platforms ($META)
- Interoperability
New Pricing Rule for Appraisal Rights in ECO: Potential Arb Openings in DB Hitek
- A South Korean lawmaker introduced legislation that would mandate that appraisal right exercise prices in split-off listings (equity carve-out) be based on asset/earnings value rather than market price (stock price).
- We may find an arb opening in DB Hitek. The appraisal price based on the asset/earnings value is at an 11.31% premium to the last close.
- If DB HiTek postpones the split-off listing to next year, FY22 earnings should be reflected. In this case, the appraisal price will be at a 90% premium.
Meta Platforms ($META)
- The technology sector is full of polarizing personalities, many of whom stand at the helm of some of the largest companies in the world.
- Whether that be with the brash antics and lofty ambitions of Elon Musk, the undoubtable brilliance tainted by Bitcoin Maximalism exhibited by Jack Dorsey, the SEC-challenging twitter threads blasted by Brain Armstrong, or the naivety potentially falsely portrayed by Vlad Tenev, there is no shortage of individuals that, love or hate, you can’t help but pay attention to.
- Mark Zuckerburg is one of those people. The man that steers the ship of of Metaverse has clear technical aptitude, a far-cry away from the resume full of consulting experience and MBAs possessed by a lot of modern c-suite executives.
Interoperability
- Interoperability is a fascinating topic. It is a concept applicable to different systems worldwide, from communication systems, hardware and technology to groups of people.
- We use interoperable systems every day; it is also often a background function, so many people do not even realise they are interacting with them.
- Nevertheless, they have allowed many of our current systems to work seamlessly, including our internet and mobile devices.
💡 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
