Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 40 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Two new deal was discussed on Smartkarma this week: <a href="https://www.smartkarma.com/entities/zhaojin-mining-industry-company-ltd-h" target="_blank" data-smartkarma-citation="entities:4626:1" rel="noopener">Zhaojin Mining Industry H (1818 HK)</a>'s tilt for <a href="https://www.smartkarma.com/entities/tietto-minerals-ltd" target="_blank" data-smartkarma-citation="entities:28006:1" rel="noopener">Tietto Minerals Ltd (TIE AU)</a>; and <a href="https://www.smartkarma.com/entities/teraoka-seisakusho-co-ltd" target="_blank" data-smartkarma-citation="entities:18180:1" rel="noopener">Teraoka Seisakusho (4987 JP)</a>'s MBO.</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/symbio-holdings-ltd" target="_blank" data-smartkarma-citation="entities:20292:1" rel="noopener">Symbio Holdings (SYM AU)</a>, <a href="https://www.smartkarma.com/entities/lansen-pharmaceutical-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:10835:1" rel="noopener">Lansen Pharmaceutical Holdings Co, Ltd. (503 HK)</a>, <a href="https://www.smartkarma.com/entities/celltrion-healthcare-co-ltd" target="_blank" data-smartkarma-citation="entities:23641:1" rel="noopener">Celltrion Healthcare (091990 KS)</a>, and <a href="https://www.smartkarma.com/entities/eoflow-co-ltd" target="_blank" data-smartkarma-citation="entities:36100:1" rel="noopener">EOFlow (294090 KS)</a>.</li>
</ul>


I tally 40 - mostly firm, mostly Asia-Pac - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deal was discussed on Smartkarma this week: Zhaojin Mining Industry H (1818 HK)'s tilt for Tietto Minerals Ltd (TIE AU); and Teraoka Seisakusho (4987 JP)'s MBO.
Key updates took place for: Symbio Holdings (SYM AU), Lansen Pharmaceutical Holdings Co, Ltd. (503 HK), Celltrion Healthcare (091990 KS), and EOFlow (294090 KS).


(Mostly) Asia-Pac Weekly Risk Arb Wrap: Tietto Teraoka Seisakusho, Symbio, Celltrion Health, EOFlow

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/azure-minerals-ltd" target="_blank" data-smartkarma-citation="entities:16538:1" rel="noopener">Azure Minerals (AZS AU)</a> has entered a scheme implementation deed with <a href="https://www.smartkarma.com/entities/sociedad-quimica-y-minera-de-chile-sa" target="_blank" data-smartkarma-citation="entities:27977:1" rel="noopener">Sociedad Quimica y Minera de Chile (SQM US)</a> at A$3.52 per share, a 44.3% premium to the undisturbed price.</li>
<li>To avoid a repeat of the <a href="https://www.smartkarma.com/entities/albemarle-corp" target="_blank" data-smartkarma-citation="entities:7678:1" rel="noopener">Albemarle Corp (ALB US)</a>/<a href="https://www.smartkarma.com/entities/liontown-resources-ltd" target="_blank" data-smartkarma-citation="entities:20488:1" rel="noopener">Liontown Resources (LTR AU)</a> situation, if the scheme fails or is terminated, SQM will launch an off-market takeover offer at A$3.50.</li>
<li>Gina Rinehart is rumoured to have built a 14.5% stake, suggesting the final offer is an off-market takeover. The offer is conditional on FIRB approval. </li>
</ul>



Azure Minerals (AZS AU) has entered a scheme implementation deed with Sociedad Quimica y Minera de Chile (SQM US) at A$3.52 per share, a 44.3% premium to the undisturbed price.
To avoid a repeat of the Albemarle Corp (ALB US)/Liontown Resources (LTR AU) situation, if the scheme fails or is terminated, SQM will launch an off-market takeover offer at A$3.50.
Gina Rinehart is rumoured to have built a 14.5% stake, suggesting the final offer is an off-market takeover. The offer is conditional on FIRB approval. 


Azure Minerals (AZS AU): SQM’s Rinehart-Proof Offer

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 Oct 13th (reported today) which has an aggregated short interest worth USD16.3bn.</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 Pilbara Minerals, Domino'S Pizza E, Computershare, ANZ, Igo.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 13th (reported today) which has an aggregated short interest worth USD16.3bn.
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 Pilbara Minerals, Domino'S Pizza E, Computershare, ANZ, Igo.


ASX Short Interest Weekly (Oct 13th): Pilbara Minerals, Domino'S Pizza E, Computershare, ANZ, Igo

Lithium Power International / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lithium-power-international" target="_blank" data-smartkarma-citation="entities:30603:1" rel="noopener">Lithium Power International (LPI AU)</a> has entered a scheme implementation deed with Corporacion Nacional del Cobre de Chile (Codelco) at A$0.57 per share, a 119.2% premium to the undisturbed price.  </li>
<li>Shareholders representing 32.47% of outstanding shares will vote in favour of the scheme. Forums suggest that retail shareholders are broadly resigned to accepting the offer.</li>
<li>The offer is conditional on FIRB approval. The scheme meeting will be held on 23 January 2024. At the last close, the gross spread was 7.5%. </li>
</ul>



Lithium Power International (LPI AU) has entered a scheme implementation deed with Corporacion Nacional del Cobre de Chile (Codelco) at A$0.57 per share, a 119.2% premium to the undisturbed price.  
Shareholders representing 32.47% of outstanding shares will vote in favour of the scheme. Forums suggest that retail shareholders are broadly resigned to accepting the offer.
The offer is conditional on FIRB approval. The scheme meeting will be held on 23 January 2024. At the last close, the gross spread was 7.5%. 


Lithium Power (LPI AU): Codelco’s Binding Offer at A$0.57

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Sep 29th (reported today) which has an aggregated short interest worth USD16.0bn.</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 Liontown, BHP, Macquarie, NAB, Santos, Fortescue Metals, Woodside Energy, Evolution Mining.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 29th (reported today) which has an aggregated short interest worth USD16.0bn.
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 Liontown, BHP, Macquarie, NAB, Santos, Fortescue Metals, Woodside Energy, Evolution Mining.


ASX Short Interest Weekly (Sep 29th): Liontown, BHP, Macquarie, NAB, Santos, Fortescue Metals

Australia

Mineral Resources Ltd. offers contract crushing services to the mining industry in Australia.  The Company serves gold, iron ore, tantalum, and coal companies.

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Mineral Resources (MIN AU)

(Mostly) Asia-Pac Weekly Risk Arb Wrap: Tietto Teraoka Seisakusho, Symbio, Celltrion Health, EOFlow

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Azure Minerals (AZS AU): SQM’s Rinehart-Proof Offer

The scheme consideration is A$3.52 per share. To avoid the Albermarle/Liontown debacle, the offer is Rinehart-proofed with an A$3.50 off-market...

Arun George

ASX Short Interest Weekly (Oct 13th): Pilbara Minerals, Domino'S Pizza E, Computershare, ANZ, Igo

We analyzed ASX short interest report for the past week and highlight short interest changes in Pilbara Minerals, Domino'S Pizza E, Computershare,...

Ke Yan, CFA, FRM

Lithium Power (LPI AU): Codelco’s Binding Offer at A$0.57

Forums suggest that retail shareholders are broadly resigned to accepting the offer. The scheme meeting will be held on 23 January 2024. At the...

Arun George

ASX Short Interest Weekly (Sep 29th): Liontown, BHP, Macquarie, NAB, Santos, Fortescue Metals

We analyzed ASX short interest report for the past week and highlight short interest changes in Liontown, BHP, Macquarie, NAB, Santos, Fortescue...

Ke Yan, CFA, FRM

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