Aequitas Research - PERSOL HOLDINGS CO. LTD. (2181) Persol Holdings Placement

Report

Aequitas Research

Clarence Chu

EUR 92.12 For Business Accounts Only

Persol Holdings Placement

Kelly Holdings aims to raise around US$200m via selling its 3.8% stake in Persol Holdings.

Kelly Holdings posted 4Q21 and full-year FY21 results on 14th February 2022. In its earnings announcement, the firm mentioned that it was looking to end its cross-shareholding with Persol Holdings. The two firms share a JV in PersolKelly.

In this note, we will run the deal through our ECM framework and comment on other deal dynamics.

16/02/2022 1 EN

Underlying

PERSOL HOLDINGS CO. LTD.

Persol Holdings is a holding company. Along with its group companies, Co. operates in four business segments. Co. provides temporary staffing and contracting services for general office work; business consulting services, planning and management of businesses; R&D outsourcing support; re-employment support services and overseas recruitment services especially in China and South East Asia. Co. is also engaged in the design and development of network systems; the dispatch of engineers and contract works for machinery design, electrical and electronic design; and the management of recruitment related media such as recruit information magazines and websites.

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JP3547670004 Japan

Provider

Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.

Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.

Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

See profile

Analysts

Clarence Chu

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Persol Holdings Placement

With a more favourable environment, PERSOL HOLDINGS improves to Slightly Positive

UAFRS vs As Reported Weekly Highlights - Asia - 2020 08 28

Onewo Space-Tech Pre-IPO

Legend Biotech Follow-on Offering

Xtep International Placement

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