Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

🇯🇵 Japan • Asahi Group Holdings (2502 JP) - A Return & Valuation Perspective

Long Kirin/​Short Asahi While Tokyo Olympics Hangs In Doubt

Asahi Raises Domestic Beverage Prices: Elastic “Beer” Demand Makes the Price Hike Unfavourable

Asahi Group Holdings Placement: Unlikely Until Share Price Rebounds

Asahi to Close The Acquisition of CUB on 1st of June

Asahi Group: Alcohol Tax Reforms to Challenge Asahi’s No. 1 Position in The Japanese Beer Market

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

Asahi Group Holdings / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/asahi-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10482:1" rel="noopener">Asahi Group Holdings (2502 JP)</a> announced yesterday that its board of directors have approved its much-awaited secondary placement.The details are as follows:<ul><li>The placement is broken into 3 main parts consisting of Issuance of new shares, treasury shares and a secondary offering. Under this offering, the company will sell a maximum of 48.7m shares, out of which 51.9% of shares are treasury shares and the remaining 48.1% are new shares.</li></ul><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/155/222/original/Capture.PNG?1598463355" class="editor-image img-responsive" data-smartkarma-image-id="155222"></figure><ul>
<li>The offer price is to be determined between September 7th and September 11th of 2020 and will carry a maximum discount of 10% from the “Pricing date’s” price.</li>
<li>The subscription period starts from the business day immediately following the “Pricing date” and ends on the second business day following the “Pricing date”.</li>
<li>The secondary offering is similar to an overallotment option where the lead underwriter will borrow shares from existing investors, depending on the demand. These borrowed shares will be replaced by new shares offered through a third-party allotment at the same offer price decided on the “Pricing date”.</li>
</ul>

Asahi Group Holdings (2502 JP) announced yesterday that its board of directors have approved its much-awaited secondary placement.The details are as follows:The placement is broken into 3 main parts consisting of Issuance of new shares, treasury shares and a secondary offering. Under this offering, the company will sell a maximum of 48.7m shares, out of which 51.9% of shares are treasury shares and the remaining 48.1% are new shares.
The offer price is to be determined between September 7th and September 11th of 2020 and will carry a maximum discount of 10% from the “Pricing date’s” price.
The subscription period starts from the business day immediately following the “Pricing date” and ends on the second business day following the “Pricing date”.
The secondary offering is similar to an overallotment option where the lead underwriter will borrow shares from existing investors, depending on the demand. These borrowed shares will be replaced by new shares offered through a third-party allotment at the same offer price decided on the “Pricing date”.


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