Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

JTC IPO Preview (Part 1) - A Japanese Duty-Free Shop Operator Listing on the Korean Stock Market

JTC IPO Preview (Part 2) - Valuation Analysis

JTC IPO Preview (Part 3): Book Building Results

Douglas Research Advisory

Event-Driven

<ul>
<li>On 25 August, Affirma Capital announced that it will be doubling the tender offer volume of JTC from 10.43 million shares previously to 20.87 million shares (40.4% of outstanding shares).</li>
<li>Affirma Capital's stake in JTC will increase from the existing 29.2% to 69.5% after this second tender offer.</li>
<li>There were a total of 21.5 million international visitors to Japan from January to June 2025, up 21% YoY. This is a record breaking figure. </li>
</ul>


On 25 August, Affirma Capital announced that it will be doubling the tender offer volume of JTC from 10.43 million shares previously to 20.87 million shares (40.4% of outstanding shares).
Affirma Capital's stake in JTC will increase from the existing 29.2% to 69.5% after this second tender offer.
There were a total of 21.5 million international visitors to Japan from January to June 2025, up 21% YoY. This is a record breaking figure. 


アファーマ・キャピタルによるJTCの公開買付けの規模が2倍に（追加1,040万株）

JTC Inc/Fukuoka

アファーマ・キャピタルによるJTCの公開買付けの規模が2倍に（追加1,040万株）