IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Ajinomoto (Malaysia) (AJI MK): Ajinomoto (2802 JP)’s Privatisation Offer at RM20

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Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/ajinomoto-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:12499:1" rel="noopener">Ajinomoto Malaysia (AJI MK)</a> IA has opined that <a href="https://www.smartkarma.com/entities/ajinomoto-co-inc" target="_blank" data-smartkarma-citation="entities:8911:1" rel="noopener">Ajinomoto Co (2802 JP)</a>’s RM20.00 offer is NOT fair but reasonable. </li>
<li>The key conditions are the headcount test (majority in number) and the value test (approval by at least 75% of disinterested shareholders, with rejection by &lt;10% of all disinterested shareholders).</li>
<li>The lack of a disinterested shareholder holding a blocking stake, the Board’s support and recent precedents suggest that the vote remains low-risk. </li>
</ul>


The Ajinomoto Malaysia (AJI MK) IA has opined that Ajinomoto Co (2802 JP)’s RM20.00 offer is NOT fair but reasonable. 
The key conditions are the headcount test (majority in number) and the value test (approval by at least 75% of disinterested shareholders, with rejection by &lt;10% of all disinterested shareholders).
The lack of a disinterested shareholder holding a blocking stake, the Board’s support and recent precedents suggest that the vote remains low-risk. 


Ajinomoto (Malaysia) (AJI MK): IA Opines NOT Fair but Reasonable; Vote on 24 September