Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Nov 4th (reported today) which has an aggregated short interest worth USD18.4bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Telstra, Macquarie, Wesfarmers, BHP, Newcrest Mining, Nextdc, Coles.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 4th (reported today) which has an aggregated short interest worth USD18.4bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Telstra, Macquarie, Wesfarmers, BHP, Newcrest Mining, Nextdc, Coles.


ASX Short Interest Weekly (Nov 4th): Telstra, Macquarie, Wesfarmers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>At the December rebalance, there will be one change for the ASX100 while there will be five changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>. All changes were expected.</li>
<li>Nearly all inclusions and exclusions have over 2 days of ADV to trade and that increases significantly on some stocks. The volatility on the inclusions has been extremely high.</li>
<li>There could be another change announced in the coming week depending on results of the <a href="https://www.smartkarma.com/entities/oil-search-ltd" target="_blank" data-smartkarma-citation="entities:773:1" rel="noopener">Oil Search Ltd (OSH AU)</a> Scheme Meeting for the merger with <a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd (STO AU)</a>.</li>
</ul>


At the December rebalance, there will be one change for the ASX100 while there will be five changes to the S&amp;P/ASX 200 (AS51 INDEX). All changes were expected.
Nearly all inclusions and exclusions have over 2 days of ADV to trade and that increases significantly on some stocks. The volatility on the inclusions has been extremely high.
There could be another change announced in the coming week depending on results of the Oil Search Ltd (OSH AU) Scheme Meeting for the merger with Santos Ltd (STO AU).


ASX100/​200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock

<ul>
<li>The review period for the December review ended on 19 November. The announcement of changes will take place on 3 December with implementation at the close on 17 December.</li>
<li>There could be two changes to the ASX100 and <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> prior to the regular rebalance if Spark Infrastructure and Oil Search are delisted.</li>
<li>Then there could be another change to the S&amp;P/ASX100 and up to five changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the regular review. Some impacts are large.</li>
</ul>


The review period for the December review ended on 19 November. The announcement of changes will take place on 3 December with implementation at the close on 17 December.
There could be two changes to the ASX100 and S&amp;P/ASX 200 (AS51 INDEX) prior to the regular rebalance if Spark Infrastructure and Oil Search are delisted.
Then there could be another change to the S&amp;P/ASX100 and up to five changes to the S&amp;P/ASX 200 (AS51 INDEX) at the regular review. Some impacts are large.


ASX100/200 Index Rebalance Preview: Permutations and Combinations as M&A Activity Booms

<ul>
<li>The National Court of PNG and the independent expert have given the go ahead for <a href="https://www.smartkarma.com/entities/oil-search-ltd" target="_blank" data-smartkarma-citation="entities:773:1" rel="noopener">Oil Search Ltd (OSH AU)</a> shareholders to vote on the proposed merger with Santos.</li>
<li>If the Oil Search shareholders approve, the stock could be deleted at the close on 10 December. Spark Infrastructure could be deleted at the end of November following its acquisition.</li>
<li>There will be inclusions to the S&amp;P/ASX100 and S&amp;P/ASX 200 ahead of the regular rebalance. Then there will be more changes a couple of weeks later at the regular rebalance.</li>
</ul>


The National Court of PNG and the independent expert have given the go ahead for Oil Search Ltd (OSH AU) shareholders to vote on the proposed merger with Santos.
If the Oil Search shareholders approve, the stock could be deleted at the close on 10 December. Spark Infrastructure could be deleted at the end of November following its acquisition.
There will be inclusions to the S&amp;P/ASX100 and S&amp;P/ASX 200 ahead of the regular rebalance. Then there will be more changes a couple of weeks later at the regular rebalance.


Santos/Oil Search: Expert and Court Thumbs Up; Potential S&P/ASX Changes

Earlier today, <a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining (DEG AU)</a> went into a trading halt and announced that the company was launching a fully underwritten A$125m placement to complete the Mallina Gold Project prefeasibility study, extend existing resources and conduct exploration drilling.The company is selling a maximum of 113.636m shares at an offer price of A$1.10/share. This is a 9% discount to the last close. The trading halt will be lifted latest by 22 October, the new shares will settle on 27 October and will be allotted on 28 October.The increased number of shares could result in <a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining (DEG AU)</a> being included in the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the December review. The stock has been close to the inclusion zone at the last few reviews but eventually missed out. This placement should put the stock in a stronger position for index inclusion.Then there is the wave of M&amp;A activity in Australia that will result in a few more index changes prior to the regular rebalance in December.The <a href="https://www.smartkarma.com/entities/spark-infrastructure-group" target="_blank" data-smartkarma-citation="entities:595:1" rel="noopener">Spark Infrastructure (SKI AU)</a> acquisition is expected to be completed by end November, while the <a href="https://www.smartkarma.com/entities/oil-search-ltd" target="_blank" data-smartkarma-citation="entities:773:1" rel="noopener">Oil Search Ltd (OSH AU)</a> / <a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd (STO AU)</a> merger is expected to be complete by early December.<a href="https://www.smartkarma.com/entities/sandfire-resources-limited" target="_blank" data-smartkarma-citation="entities:1259:1" rel="noopener">Sandfire Resources Limited (SFR AU)</a> and <a href="https://www.smartkarma.com/entities/imugene-ltd" target="_blank" data-smartkarma-citation="entities:20276:1" rel="noopener">Imugene Ltd (IMU AU)</a> could be added to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> ahead of the regular rebalance in December and there could be another 3-4 changes at the regular rebalance.

Earlier today, De Grey Mining (DEG AU) went into a trading halt and announced that the company was launching a fully underwritten A$125m placement to complete the Mallina Gold Project prefeasibility study, extend existing resources and conduct exploration drilling.The company is selling a maximum of 113.636m shares at an offer price of A$1.10/share. This is a 9% discount to the last close. The trading halt will be lifted latest by 22 October, the new shares will settle on 27 October and will be allotted on 28 October.The increased number of shares could result in De Grey Mining (DEG AU) being included in the S&amp;P/ASX 200 (AS51 INDEX) at the December review. The stock has been close to the inclusion zone at the last few reviews but eventually missed out. This placement should put the stock in a stronger position for index inclusion.Then there is the wave of M&amp;A activity in Australia that will result in a few more index changes prior to the regular rebalance in December.The Spark Infrastructure (SKI AU) acquisition is expected to be completed by end November, while the Oil Search Ltd (OSH AU) / Santos Ltd (STO AU) merger is expected to be complete by early December.Sandfire Resources Limited (SFR AU) and Imugene Ltd (IMU AU) could be added to the S&amp;P/ASX 200 (AS51 INDEX) ahead of the regular rebalance in December and there could be another 3-4 changes at the regular rebalance.

De Grey Mining (DEG AU) Placement & More Potential ASX200 Changes in December

Australia

Event Hospitality and Entertainment Limited owns and operates motion picture exhibition cinemas, drive-in theaters and film processing laboratories.  The Group also owns and operates the Thredbo Alpine Resort, Sydney harbor ferry services and the Feather -dale Wildlife Park along with operating hotels, resorts and restaurants.

Event Hospitality and Entertainment (EVT AU)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Event Hospitality and Entertainment (EVT AU)

ASX Short Interest Weekly (Nov 4th): Telstra, Macquarie, Wesfarmers

We analyzed ASX short interest report for the past week and highlight short interest changes in Telstra, Macquarie, Wesfarmers, BHP, Newcrest...

Ke Yan, CFA, FRM

ASX100/200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock

There is 1 change to the ASX100 and 5 changes to the ASX200 index. The adds have outperformed the deletes over the year and are trading at...

Brian Freitas

ASX100/200 Index Rebalance Preview: Permutations and Combinations as M&A Activity Booms

This is going to be a busy rebalance for the ASX100 & ASX200 indices with M&A driven changes followed by changes at the regular review. There is a...

Brian Freitas

Santos/Oil Search: Expert and Court Thumbs Up; Potential S&P/ASX Changes

Spark Infra and Oil Search could be deleted from the ASX100 & ASX200 indices ahead of the regular rebalance. Then there will be more changes at the...

Brian Freitas

De Grey Mining (DEG AU) Placement & More Potential ASX200 Changes in December

The De Grey Mining placement improves the chances of ASX200 inclusion. SKI AU and OSH AU could be deleted end Nov/beginning Dec and replaced with...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Nov 4th): Telstra, Macquarie, Wesfarmers

We analyzed ASX short interest report for the past week and highlight short interest changes in Telstra, Macquarie, Wesfarmers, BHP, Newcrest...

Ke Yan, CFA, FRM

ASX100/​200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock

There is 1 change to the ASX100 and 5 changes to the ASX200 index. The adds have outperformed the deletes over the year and are trading at...

Brian Freitas

ASX100/200 Index Rebalance Preview: Permutations and Combinations as M&A Activity Booms

This is going to be a busy rebalance for the ASX100 & ASX200 indices with M&A driven changes followed by changes at the regular review. There is a...

Brian Freitas

Santos/Oil Search: Expert and Court Thumbs Up; Potential S&P/ASX Changes

Spark Infra and Oil Search could be deleted from the ASX100 & ASX200 indices ahead of the regular rebalance. Then there will be more changes at the...

Brian Freitas

De Grey Mining (DEG AU) Placement & More Potential ASX200 Changes in December

The De Grey Mining placement improves the chances of ASX200 inclusion. SKI AU and OSH AU could be deleted end Nov/beginning Dec and replaced with...

Brian Freitas

ASX100/200 Dec21 Index Rebalance: Kangaroos Loose in the Top Paddock