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Corporate Finance

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Corporate Finance
(Overview and Features)

  • A global investment bank that provides high-quality services, normally only available to large corporations, to corporations with relatively small market capitalizations.

  • A boutique bank with a track record of several cross-border transactions

  • Our cross-border experience includes advising the first Japanese company to list on the Singapore stock exchange and the first Japanese company to list on the Tel Aviv stock exchange.

  • As a boutique firm, advice is impartial and correspondence is flexible and responsive

  • Provide a one-stop service to venture companies

  • Can leverage an excellent network in the Israeli market (capital market, venture market and other industries)

  • A sound understanding and familiarity with the Japanese corporate culture as well as knowledge of global standards

Cross-Border IPO Client

2013

We helped our client XYEC Holdings Co., Ltd., to list on the Catalist Exchange (‘SGX’) on 18th September 2013. Aristagora Advisors successfully advised the company for a year and a half.

  • The first Japanese company to list on the primary market of the Singapore Stock Exchange

    • With our support and expertise, XYEC became the first Japanese company to list on the Singapore Stock Exchange (excluding Japanese companies that are dual listed). Aristagora Advisors acted in an advisory capacity for the listing, managed the project, and partnered with numerous parties such as sponsors, an IR firm in Singapore as well as legal offices and audit companies in both Singapore and Japan. In addition, we helped XYEC executives to overcome linguistic, cultural, and geographical barriers.

  • The key determinants of success

    • Initiative – autonomy of the company
    • Communication
    • Challenge - free from the traditional approach
    • Decision making - an ability to quickly make effective decisions
    • Perseverance

    • XYEC continues to be the only Japanese company listed on the primary market of the Singapore Stock Exchange.

2017

In 2017 we helped our client, Okura Holdings Limited, list on the main market of the Hong Kong Stock Exchange (HKEX). Aristagora Advisors successfully advised the company for 2 years.

  • Primary Listing in the Industry

    • Many questioned whether the company would be able to complete an IPO due to various challenges such as company size, switching sponsor and the fact the business was encountering difficulties. In the end, we helped the company overcome all obstacles for it to become the third company in the industry listed on the stock exchange
    • Aristagora Advisors acted in an advisory capacity for the listing, managed the project and partnered with many parties such as the sponsor in Hong Kong (an IR firm), legal offices and audit companies in both Hong Kong and Japan. In addition, we helped Okura executives overcome linguistic, cultural, and geographical barriers

  • The key determinants of success

    • Initiative – autonomy of the company
    • Communication
    • Perseverance – management’s perseverance and commitment was critical to the listing’s success

    • It is likely that there will be similar size companies in the same industry looking to list in the future

2018

In August 2018, Aristagora Advisors’ helped its client Internet Research Institute Limited to list on the Tel Aviv Stock Exchange (TASE) market.

  • The First Japanese company and first Asian company to list on the Tel Aviv Stock Exchange in Israel.

    • Aristagora Advisors advised client IRI commencing from the investigation stage. Unlike in Asia, Europe and the United States, Israeli cultural idiosyncrasieswhilst collaborating with Israeli parties presented us with new challenges to overcome as well as having to manage unique listing regulations and a lack of IPO funding. We overcame those obstacles and as a result, the listing could eventually go ahead.

    • Aristagora Advisors worked as an IPO project manager (corporate advisor), playing a coordinating role among underwriting securities firms, law firms, auditing firms, IR companies and other Japanese law firms, audit firms and clients.

  • The key determinants of success

    • Endurance
    • Communication
    • Challenge

    • We were successful in helping our client to list due to having a small and committed team who understood Israeli culture differences and a strong and committed management team.

Cross-Border M&A Achievements

Aristagora Advisors advised client Mamezou Holdings for 2 years, assisting with both the company’s initial partial acquisition and subsequent full acquisition in 2016 of Singapore-listed XYEC Holdings

Published in July 2016 Stock swap absorption merger between Mamezou Holdings and XYEC Holdings

  • Mamezou Holdings completes the takeover of XYEC Holdings through a stock swap
  • Implementation of freeze-out merger and share transfer between Singapore Stock Exchange and Tokyo Stock Exchange
  • The expansion of Mamezou Holdings becomes a stepping stone for the business to be listed on the Tokyo Stock Exchange First Section

Published in March 2015 Additional acquisition of XYEC Holdings shares by Mamezou Holdings integration as a subsidiary

  • Mamezou Holdings acquires additional shares of XYEC Holdings through TOB
  • XYEC Holdings becomes a subsidiary of Mamezou Holdings, aiming to boost efficiency and strengthen its financial structure by integrating its business with Mamezou Holdings
  • Enhance the corporate value of Mamezou Holdings and XYEC Holdings while maintaining the listing of XYEC Holdings

Corporate acquisitions have different settlement systems under the Singapore and Japanese regulatory authorities and stock swaps require time and patience. For the benefit of our client, we provided advice and conducted various negotiations, overcoming linguistic, cultural and geographical barriers.

Domestic M&A Achievements

  • In March 2020, Memezou Holdings Co., LTD, carried out an MBO and became delisted from the 1st section of the Tokyo Stock Exchange in June. Aristagora Advisors engaged in this project for 2 years since 2018 and advised the company from the sell side.
  • By delisting from the stock exchange and without harming existing investors, over the long-term the company can now drastically improve its business structure and adapt to the changing IT sector
  • IR Japan was also involved as a financial advisor in the MBO project
  • The total value of the acquired stock in this TOB is over $330M
  • In November 2015, Johnan Academic Preparatory Institute, INC. integrated Kugahara Sports Club as a Consolidated subsidiary. Aristagora Advisors advised Kugahara Sports Club from the sell side.
  • Johnan Academic Preparatory Institute, INC. integrated Kugahara Sports Club as a consolidated subsidiary by acquiring the stock
  • This project was carried out since Kugahara Sports Club's issue regarding their successor aligned with Johnan Academic Preparatory Institute's expansion.
  • Kugahara Sports Club changed its name to Kugahara Swimming Club and expanded its business under Johnan Academic Preparatory Institute

Fundraising Advisory

  • 1Fundraising for Listed Companies

    For listed companies, we generally cater to clients with a market capitalization of up to 30bn yen and provide advice on various financing schemes including common stock, special stock, convertible bonds, warrants etc. for both a domestic and international investor base.

  • 2Fundraising for Unlisted Companies

    For unlisted companies, we provide advice on venture capital, financing from angel investors and overseas funds as well as equity and debt investment (borrowing and corporate bonds). For each client we can arrange financing that suits their specific characteristics and needs.

  • 3Advisory for Investors and Issuing Companies

    For financing advisory, there are two key parties – the investors and the issuing company – and Aristagora Advisors has a proven track record in advising both.

  • 4Examples of Funding Advisory

    • Published June 2019
      Published February 2018

    • Published April 2019

    • Published March 2019

    • Published January 2015

    • Published October 2012