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

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

Merger Arb Mondays (15 Sep) - Santos, Soft99, Technopro, Mandom, Shengjing Bank, Dongfeng Motor

Soft99 Corp (4464 JP): Effissimo Sheds More Light on Its Hostile 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>
<a target="_blank">Soft99 Corp (4464 JP)</a> has recommended an MBO from Mr. Hideaki Tanaka (CEO) at JPY2,465, a 52.2% premium to the last close.</li>
<li>While the offer represents an all-time high, it is light as it implies a P/B of 0.93x and is below the mid-point of the IFA DCF valuation range. </li>
<li>Barring the emergence of an activist, a benign shareholder register and the irrevocables suggest that this is a done deal.</li>
</ul>



Soft99 Corp (4464 JP) has recommended an MBO from Mr. Hideaki Tanaka (CEO) at JPY2,465, a 52.2% premium to the last close.
While the offer represents an all-time high, it is light as it implies a P/B of 0.93x and is below the mid-point of the IFA DCF valuation range. 
Barring the emergence of an activist, a benign shareholder register and the irrevocables suggest that this is a done deal.


Soft99 Corp (4464 JP): The MBO Is Light but Likely Done