Skylark Placement - Uncertainty Looms, Needs to Price at Low End of Range
Skylark Co Ltd (3197 JP) is looking to raise about US$370m in its global follow-on offering to fund capital expenditure.We have previous covered the various selldown from Bain Capital in:
Skylark Placement - The Placement We Have Been Waiting For
Skylark Placement - Selldown Expected but Wait for the Next One (third placement)
Skylark: Bain’s Second Sell Down, Overhang a Concern but Momentum Scores Well (second placement)
Bain's dishing out a substantial stake. Bookbuild to drive near term upside (first placement)
Skylark is a holding company mainly engaged in the restaurant business. Through its subsidiaries, Co. is engaged in the operation of casual dining restaurants known in Japan as "family restaurants" and buffet-style restaurants in Japan and Taiwan as well as the sale of processed food and other products. As of Dec 31 2017, Co. operates total of 3,145 restaurants and stores. In addition, Co., through its subsidiaries, is engaged in the sale of patisseries and delicatessen foods at train stations and commercial facilities, the distribution operations for the Group, the provision of restaurant cleaning and maintenance services, the delivery of merchandise to shops, and the linen supply.
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.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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