Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>The EURO STOXX 50 Index is one of the most highly-tracked indices in mainland Europe and the annual index review takes place in September.</li>
<li>Historically, these Rebalance events have had significant volume impact and they generally involve large cap names. </li>
<li>In this insight, we take a look the names leading the race to become ADDs/DELs for the upcoming index review in September 2022.</li>
</ul>


The EURO STOXX 50 Index is one of the most highly-tracked indices in mainland Europe and the annual index review takes place in September.
Historically, these Rebalance events have had significant volume impact and they generally involve large cap names. 
In this insight, we take a look the names leading the race to become ADDs/DELs for the upcoming index review in September 2022.


Euro Stoxx 50 Quiddity Leaderboard for Sep 22: Eurozone's Annual Big Impact Rebal Trades

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>Recently a note on <a href="https://www.smartkarma.com/entities/shockwave-medical-inc" target="_blank" data-smartkarma-citation="entities:28730:1" rel="noopener">Shockwave Medical Inc (SWAV US)</a> was published on SK. Being a potential game changer, we analyzed technical publications to see how well the company is positioned</li>
<li>Currently, Shockwave Medical is likely the only player in the intravascular lithotripsy market. As the intravascular device deals with calcified lesions, its primary competition is from the atherectomy market </li>
<li>Despite being a recent company with a new technology it ranks third in innovating in the area of - removing/modifying obstructions, calculi and pre-procedure preparation for intravascular intervention.</li>
</ul>


Recently a note on Shockwave Medical Inc (SWAV US) was published on SK. Being a potential game changer, we analyzed technical publications to see how well the company is positioned
Currently, Shockwave Medical is likely the only player in the intravascular lithotripsy market. As the intravascular device deals with calcified lesions, its primary competition is from the atherectomy market 
Despite being a recent company with a new technology it ranks third in innovating in the area of - removing/modifying obstructions, calculi and pre-procedure preparation for intravascular intervention.


Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vesync" target="_blank" data-smartkarma-citation="entities:31067:1" rel="noopener">Vesync (2148 HK)</a> is in a trading halt “<em>pending the release of an announcement pursuant to the Code on Takeovers and Mergers which contains inside information of the Company.</em>” </li>
<li>The Yang family is likely seeking to privatise Vesync through a Cayman scheme. The shares are trading 24% below the HK$5.52 IPO price.</li>
<li>We use several methods to triangulate the likely offer price, which suggests a price range of HK$5.09-10.30 per share, with an average of HK$6.71, a 59.8% premium to last close.</li>
</ul>



Vesync (2148 HK) is in a trading halt “pending the release of an announcement pursuant to the Code on Takeovers and Mergers which contains inside information of the Company.” 
The Yang family is likely seeking to privatise Vesync through a Cayman scheme. The shares are trading 24% below the HK$5.52 IPO price.
We use several methods to triangulate the likely offer price, which suggests a price range of HK$5.09-10.30 per share, with an average of HK$6.71, a 59.8% premium to last close.


Vesync (2148 HK): The Yang Family to Launch a Privatisation Offer?

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul><li>In this edition: • Philips/Unilever/AkzoNobel/Heineken/Signify | Chinese leaders have changed their stance on monetary policy • Aalberts | commits to FY26 objectives and launches FY30 objectives • Havas | Vivendi shareholders support demerger plan • Dutch banking sector | Volksbank to take charge of EUR 360m this year</li></ul>

In this edition: • Philips/Unilever/AkzoNobel/Heineken/Signify | Chinese leaders have changed their stance on monetary policy • Aalberts | commits to FY26 objectives and launches FY30 objectives • Havas | Vivendi shareholders support demerger plan • Dutch banking sector | Volksbank to take charge of EUR 360m this year

What's News in Amsterdam - 10 December (Philips/Unilever/AkzoNobel/Heineken/Signify | Aalberts | Havas | Dutch banking sector)

Equity Capital Markets

Midea Group Co Ltd A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> priced its H Share at HK$54.80 to raise HK$31,014 million (US$4.0 billion) in gross proceeds. The H Share will be listed tomorrow.</li>
<li>The H Share listing price implies an AH discount of 21.4% at the A Share price of RMB63.51. This compares to <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a>'s AH discount of 13.8%.</li>
<li>Futu grey market data shows that the H Shares closed 5.1% higher at HK$57.60. Our valuation analysis suggests that the H Share listing price is attractive.</li>
</ul>



Midea Group Co Ltd A (000333 CH) priced its H Share at HK$54.80 to raise HK$31,014 million (US$4.0 billion) in gross proceeds. The H Share will be listed tomorrow.
The H Share listing price implies an AH discount of 21.4% at the A Share price of RMB63.51. This compares to Haier Smart Home (6690 HK)'s AH discount of 13.8%.
Futu grey market data shows that the H Shares closed 5.1% higher at HK$57.60. Our valuation analysis suggests that the H Share listing price is attractive.


Midea Group H Share Listing (300 HK): Trading Debut

Netherlands

Koninklijke Philips NV is a health technology company focused on improving people's health across the health continuum from healthy living and prevention, to diagnosis, treatment, and home care. The Company offers products and services in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care.

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

Koninklijke Philips NV (PHIA NA)

Euro Stoxx 50 Quiddity Leaderboard for Sep 22: Eurozone's Annual Big Impact Rebal Trades

There are 3 ADDs/DELs based on current data but these rankings could fluctuate. There might some interesting pair trades involving the highest...

Janaghan Jeyakumar, CFA

Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

Shockwave’s intravascular lithotripsy product could become a game changer in dealing with coronary calcium and may offer a more effective solution...

Pyari Menon

Vesync (2148 HK): The Yang Family to Launch a Privatisation Offer?

We use several methods to triangulate the likely offer price, which suggests a price range of HK$5.09-10.30 per share, with an average of HK$6.71....

Arun George

What's News in Amsterdam - 10 December (Philips/Unilever/AkzoNobel/Heineken/Signify | Aalberts | Havas | Dutch banking sector)

In this edition: • Philips/Unilever/AkzoNobel/Heineken/Signify | Chinese leaders have changed their stance on monetary policy • Aalberts | commits...

The IDEA!

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Euro Stoxx 50 Quiddity Leaderboard for Sep 22: Eurozone's Annual Big Impact Rebal Trades

There are 3 ADDs/DELs based on current data but these rankings could fluctuate. There might some interesting pair trades involving the highest...

Janaghan Jeyakumar, CFA

Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

Shockwave’s intravascular lithotripsy product could become a game changer in dealing with coronary calcium and may offer a more effective solution...

Pyari Menon

Vesync (2148 HK): The Yang Family to Launch a Privatisation Offer?

We use several methods to triangulate the likely offer price, which suggests a price range of HK$5.09-10.30 per share, with an average of HK$6.71....

Arun George

What's News in Amsterdam - 10 December (Philips/Unilever/AkzoNobel/Heineken/Signify | Aalberts | Havas | Dutch banking sector)

In this edition: • Philips/Unilever/AkzoNobel/Heineken/Signify | Chinese leaders have changed their stance on monetary policy • Aalberts | commits...

The IDEA!

Midea Group H Share Listing (300 HK): Trading Debut

The H Share listing and Futu grey market price imply an AH discount of 21.4% and 17.4%, respectively, which is attractive compared to Haier, its...

Arun George