Large MBO purchases one after another at 1.5 times the previous day! Next, screen stocks that are likely to become MBO under 5 conditions
$大正製薬ホールディングス(4581.JP$November became a big MBOO rush, with the largest MBOO (management buyout) ever announced. Of the 5 cases where the total purchase amount exceeds 30 billion yen, the stock purchase price for 3 cases is 1.5 times or more of the closing price of the previous business day, and it seems that there are not a few existing shareholders who have obtained large returns. When analyzing MBO projects up until now, a vague picture of companies that are likely to break through to large MBO in the future comes to light.
According to the Nihon Keizai Shimbun dated 26th based on M&A adviser Recoff's data, the total purchase amount of MBO in 2023 has already exceeded 1.1 trillion yen, greatly exceeding 305 billion yen in 2020, which was the highest amount until now.
As demands from shareholders and the general public for listed companies increase, such as capital efficiency starting with ROE, rising stock prices, and corporate ethics starting with ESG, etc., there is a possibility that companies that think that the disadvantages are greater than the merits of maintaining listing will go through delisting.
There are various backgrounds and purposes for companies to do MBO,The 5 large MBO cases in November started when 4 were stock acquisitions by the founder's family and 1 case where the founder indicated his intention to sell shares. In the Nihon Keizai Shimbun dated 27th, Mizuho Securities's chief stock strategist Kikuchi Masatoshi pointed out that “whether to implement an MBO (or not) depends on major shareholders and management decisions.” As a condition for the next MBO candidate, it is said that stocks with a high shareholding ratio of the founder, a low PBR (based on actual results), and a low stock price increase rate compared to the end of '22 were listed.
So,Listed on the Tokyo Stock Exchange Prime MarketIt is a company that is doing it, and the followingMeets 3 conditionsThen, andCompanies that are substantially seen as owner-affiliated companiesPick up 10 companies.
・Operating margin of 1% or less
・PBR is less than 1 times
・The year-to-date stock price increase rate is 10% or less
ー MooMoo News Mark
Source: Nihon Keizai Shimbun, Moomoo
Source: Nihon Keizai Shimbun, Moomoo
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181283072 : Please do it in a big way.
181283072 : I'm hanging it up.
181283072 : one beet?
自由飲酒党党首 : Because it's better to do MBO where PBR is low
181283072 181283072 : I'm hanging it up.
181283072 自由飲酒党党首 : What do you think of Mbo?
181283072 : I want to make it Chiyoda.
182316450 181283072 : It stands for management buyout, where the management team raises funds from financial institutions, etc., purchases shares on the market, and delisted. It seems like there are a lot of cases where owner companies usually do it.
すなぎも商事 : A new perspective.