Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsubishi-corp" target="_blank" data-smartkarma-citation="entities:20668:1" rel="noopener">Mitsubishi Corp (8058 JP)</a>'s ¥300bn buyback means 8+% of ADV every day from here to end-Dec 2023. Buy MitCorp vs trading houses with less of a buyback impact. </li>
<li>Rumours abound of an MSCI up weight for <a href="https://www.smartkarma.com/entities/jardine-matheson-holdings-ltd" target="_blank" data-smartkarma-citation="entities:19718:1" rel="noopener">Jardine Matheson Holdings (JM SP)</a>. It wasn't a clear-cut situation. And nothing came of it. </li>
<li>There are concerns about the stability of funding for JIP’s offer for <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a> in the event that <a href="https://www.smartkarma.com/entities/kioxia" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia (6600 JP)</a>’s results collapse further.</li>
</ul>



Mitsubishi Corp (8058 JP)'s ¥300bn buyback means 8+% of ADV every day from here to end-Dec 2023. Buy MitCorp vs trading houses with less of a buyback impact. 
Rumours abound of an MSCI up weight for Jardine Matheson Holdings (JM SP). It wasn't a clear-cut situation. And nothing came of it. 
There are concerns about the stability of funding for JIP’s offer for Toshiba Corp (6502 JP) in the event that Kioxia (6600 JP)’s results collapse further.


Last Week in Event SPACE: MitCorp, Jardine Matheson, Toshiba, Japanese Foreign Inflows

<ul>
<li>
<a href="https://www.smartkarma.com/entities/prosus-nv" target="_blank" data-smartkarma-citation="entities:28104:1" rel="noopener">Prosus (PRX NA)</a> moved 96mn shares of <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> into CCASS. Tencent shares fell hard. If the share price fell because of a block offering, that would be unwarranted. </li>
<li>
<a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro (086520 KS)</a> is up an eye-watering 590% in the past three months, primarily on <a href="https://www.smartkarma.com/entities/ecopro-bm-co-ltd" target="_blank" data-smartkarma-citation="entities:27873:1" rel="noopener">Ecopro BM (247540 KS)</a>'s outperformance, together with sentiment towards soon-to-be-listed 52.8% held Ecopro Materials. </li>
<li>Japan's Finance Minister said that companies need to improve their PBRs, and that "increasing corporate value of listed companies would allow for Japan to realise sustainable growth."</li>
</ul>



Prosus (PRX NA) moved 96mn shares of Tencent (700 HK) into CCASS. Tencent shares fell hard. If the share price fell because of a block offering, that would be unwarranted. 

Ecopro (086520 KS) is up an eye-watering 590% in the past three months, primarily on Ecopro BM (247540 KS)'s outperformance, together with sentiment towards soon-to-be-listed 52.8% held Ecopro Materials. 
Japan's Finance Minister said that companies need to improve their PBRs, and that "increasing corporate value of listed companies would allow for Japan to realise sustainable growth."


Last Week in Event SPACE: Tencent, Ecopro, Japan’s Governance, Jardines, Citizen

Travis Lundy

<ul>
<li>Every quarter, Indian companies report their "Shareholding Pattern" for all to see. They show holdings by category type, and holders over 1%. </li>
<li>The big news in Q1 in AdaniLand was the failed FPO, thwarted by the Hindenburg Research report, and the Adani Promoter sale of stakes in 4 companies to GQG Partners. </li>
<li>The details in the change of the shareholder structure are, however, interesting.</li>
</ul>


Every quarter, Indian companies report their "Shareholding Pattern" for all to see. They show holdings by category type, and holders over 1%. 
The big news in Q1 in AdaniLand was the failed FPO, thwarted by the Hindenburg Research report, and the Adani Promoter sale of stakes in 4 companies to GQG Partners. 
The details in the change of the shareholder structure are, however, interesting.


Analysis of Adani Group Shareholder Structure Changes in Q1 - Stock Moved

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY 100 indices in the September 2023 rebalance.</li>
<li>A couple of these names could become intra-review additions if the <a href="https://www.smartkarma.com/entities/housing-development-finance" target="_blank" data-smartkarma-citation="entities:252:1" rel="noopener">HDFC Limited (HDFC IN)</a> - <a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank (HDFCB IN)</a> Merger closes prior to the September 2023 Rebalance.</li>
<li>Apart from that, there could be five ADDs/DELs for the NIFTY 100 index which by definition will also be added/deleted from the NIFTY Next 50 index.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY 100 indices in the September 2023 rebalance.
A couple of these names could become intra-review additions if the HDFC Limited (HDFC IN) - HDFC Bank (HDFCB IN) Merger closes prior to the September 2023 Rebalance.
Apart from that, there could be five ADDs/DELs for the NIFTY 100 index which by definition will also be added/deleted from the NIFTY Next 50 index.


Quiddity Leaderboard NIFTY Sep 23: LTIMINDTREE Could Be an Intra-Review NIFTY 50 ADD

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Tata Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tata-technologies" target="_blank" data-smartkarma-citation="entities:23700:1" rel="noopener">Tata Technologies (TATATECH IN)</a>  (TT) is looking to raise around US$600m in its upcoming India IPO.</li>
<li>Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers. </li>
<li>In this note we talk about the not-so-positive aspects of the deal.</li>
</ul>



Tata Technologies (TATATECH IN)  (TT) is looking to raise around US$600m in its upcoming India IPO.
Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers. 
In this note we talk about the not-so-positive aspects of the deal.


Tata Technologies Pre-IPO - The Negatives - Still Has a Few Issues

India

Adani Power Ltd is a power project development company. The Company develops, operates and maintains power projects in India.

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Adani Power (ADANI IN)

Last Week in Event SPACE: MitCorp, Jardine Matheson, Toshiba, Japanese Foreign Inflows

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Last Week in Event SPACE: Tencent, Ecopro, Japan’s Governance, Jardines, Citizen

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Analysis of Adani Group Shareholder Structure Changes in Q1 - Stock Moved

Adani Group shareholder patterns for end-Q1 are out. That means the changes are visible. There are some weird changes. They indicate lower Real...

Travis Lundy

Quiddity Leaderboard NIFTY Sep 23: LTIMINDTREE Could Be an Intra-Review NIFTY 50 ADD

LTIMindtree is currently the highest-ranked NIFTY 50 Potential ADD and is likely to be the favourite to replace HDFC in the NIFTY 50 index if the...

Janaghan Jeyakumar, CFA

Tata Technologies Pre-IPO - The Negatives - Still Has a Few Issues

Tata Technologies (TATATECH IN) is looking to raise around US$600m in its upcoming India IPO. In this note we talk about the not-so-positive...

Sumeet Singh

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