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 (30 Aug) - Kakaku, Dentsu Soken, Seed, Carnaby, Peet, Suncorp, OUE, Shein

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/seed-co-ltd-tokyo" target="_blank" data-smartkarma-citation="entities:15534:1" rel="noopener">Seed Co Ltd/Tokyo (7743 JP)</a> announced a tender offer from <a href="https://www.smartkarma.com/entities/luxshare-precision-industry-co-ltd-3f59eaa1-da7f-4d9b-add0-c8efccfee0d5" target="_blank" data-smartkarma-citation="entities:50296:1" rel="noopener">Luxshare Precision Industry (2475 HK)</a> at JPY795, a 48.6% premium to the last close of JPY535.  </li>
<li>Despite the lack of an auction, the offer is above the midpoint of the IFA’s DCF valuation range and is attractive compared to historical trading ranges.</li>
<li>The required minority acceptance rate to meet the lower limit is not onerous. This is a done deal. The offer closes on 13 October.  </li>
</ul>



Seed Co Ltd/Tokyo (7743 JP) announced a tender offer from Luxshare Precision Industry (2475 HK) at JPY795, a 48.6% premium to the last close of JPY535.  
Despite the lack of an auction, the offer is above the midpoint of the IFA’s DCF valuation range and is attractive compared to historical trading ranges.
The required minority acceptance rate to meet the lower limit is not onerous. This is a done deal. The offer closes on 13 October.  


Seed (7743 JP): Luxshare (2475 HK)’s Tender Offer at JPY795