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

Weekly Deals Digest (26 Oct) - Digital Holdings, Soft99, Joy City, Minmetals, Sany, Seres, Pony AI

Merger Arb Mondays (27 Oct) - Dongfeng, ENN, Joy City, Minmetals, Soft99, Ashimori, Pacific Ind

Pacific Industrial (7250 JP): A Day Before Close, Effissimo Increases Its Stake Further

Pacific Industrial (7250 JP): Effissimo Rears Its Head

Pacific Industrial (7250 JP): MBO at JPY2,050 Is Light but Likely Done

Pacific Industrial (7250 JP): Limited Upside as Effissimo Continues to Add

Soft99 Corp (4464 JP): Effissimo Sheds More Light on Its Hostile Offer

Soft99 Corp (4464 JP): Shock and Awe as Effissimo Emerges with a Competing Offer

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The MBO price for <a href="https://www.smartkarma.com/entities/pacific-industrial-co-ltd" target="_blank" data-smartkarma-citation="entities:6261:1" rel="noopener">Pacific Industrial (7250 JP)</a> has increased by 42.4% from JPY2,050 to JPY2,919 per share. The revised offer represents a P/B of 1.01x.</li>
<li>While Effissimo has publicly built a 13.25% ownership stake, behind the scenes, Murakami agitated for a bump by suggesting that he would help fund the increase in the consideration.</li>
<li>The Ogawas rebuffed Murakami's funding but secured his verbal agreement to tender. While Effissimo’s intentions remain unknown, it is likely to support the revised offer. </li>
</ul>


The MBO price for Pacific Industrial (7250 JP) has increased by 42.4% from JPY2,050 to JPY2,919 per share. The revised offer represents a P/B of 1.01x.
While Effissimo has publicly built a 13.25% ownership stake, behind the scenes, Murakami agitated for a bump by suggesting that he would help fund the increase in the consideration.
The Ogawas rebuffed Murakami's funding but secured his verbal agreement to tender. While Effissimo’s intentions remain unknown, it is likely to support the revised offer. 


Pacific Industrial (7250 JP): The Wow Factor as MBO Bumped by 42% to JPY2,919