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>In this insight, we take a look at the potential ADDs and DELs for the F100 and F250 indices during the December 2024 index rebal event.</li>
<li>We see up to seven M&amp;A-related intra-review changes in the run up to the December 2024 review.</li>
<li>Our latest estimates suggest there could be one change for the F250 index during the December 2024 rebalance. We do not currently see any changes for the F100.</li>
</ul>


In this insight, we take a look at the potential ADDs and DELs for the F100 and F250 indices during the December 2024 index rebal event.
We see up to seven M&amp;A-related intra-review changes in the run up to the December 2024 review.
Our latest estimates suggest there could be one change for the F250 index during the December 2024 rebalance. We do not currently see any changes for the F100.


Quiddity Leaderboard F100/F250 Dec 24: Intra-Review Changes Galore; High-Impact Replacement Names

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/tesserent-ltd" target="_blank" data-smartkarma-citation="entities:30716:1" rel="noopener">Tesserent Ltd (TNT AU)</a>'s IE considers <a href="https://www.smartkarma.com/entities/thales-sa" target="_blank" data-smartkarma-citation="entities:21483:1" rel="noopener">Thales SA (HO FP)</a>’s A$0.13 offer fair and reasonable as it is above its valuation range of A$0.098 to A$0.109 per share. </li>
<li>The offer is subject to FIRB and shareholder approval. New Zealand’s OIO approval suggests that Australia’s FIRB approval should be forthcoming. Pearson’s recent selldown lowers the vote risk.</li>
<li>At the last close price and for the 4 October payment, the gross and annualised spread is 4.0% and 32.0%, respectively.</li>
</ul>



Tesserent Ltd (TNT AU)'s IE considers Thales SA (HO FP)’s A$0.13 offer fair and reasonable as it is above its valuation range of A$0.098 to A$0.109 per share. 
The offer is subject to FIRB and shareholder approval. New Zealand’s OIO approval suggests that Australia’s FIRB approval should be forthcoming. Pearson’s recent selldown lowers the vote risk.
At the last close price and for the 4 October payment, the gross and annualised spread is 4.0% and 32.0%, respectively.


Tesserent (TNT AU): Scheme Meeting on 18 September

<ul>
<li>In this insight, we take a look at the potential index changes for F100 and F250 in the run up to the June 2023 Rebalance.</li>
<li>Based on latest prices, there could be one change for F100 and four changes in F250 between now and the June 2023 Rebalance including <a href="https://www.smartkarma.com/entities/al-noor-hospitals-group-plc" target="_blank" data-smartkarma-citation="entities:21813:1" rel="noopener">Mediclinic International (MDC LN)</a>'s intra-review change. </li>
<li>Many of the high-ranked F250 potential additions could have very high impact according to our estimates.</li>
</ul>


In this insight, we take a look at the potential index changes for F100 and F250 in the run up to the June 2023 Rebalance.
Based on latest prices, there could be one change for F100 and four changes in F250 between now and the June 2023 Rebalance including Mediclinic International (MDC LN)'s intra-review change. 
Many of the high-ranked F250 potential additions could have very high impact according to our estimates.


Quiddity Leaderboard for UK F100/​​250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs

United Kingdom

NCC Group PLC is a global provider of independent escrow and information security assurance services. The Company provides business critical IT assurance and protection to public and private organizations worldwide.

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NCC Group PLC (NCC LN)

Quiddity Leaderboard F100/F250 Dec 24: Intra-Review Changes Galore; High-Impact Replacement Names

The Top 10 F250 potential ADDs could outperform the F250 index since there are many intra-review addition possibilities and these names are high...

Janaghan Jeyakumar, CFA

Tesserent (TNT AU): Scheme Meeting on 18 September

FIRB and shareholder approval should be forthcoming, At the last close price and for the 4 October payment, the gross and annualised spread is 4.0%...

Arun George

Quiddity Leaderboard for UK F100/250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs

On average, there could be around 20 days of volume to buy for the top four F250 potential ADDs according to our estimates and I see a decent...

Janaghan Jeyakumar, CFA

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52-week Range

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Quiddity Leaderboard F100/F250 Dec 24: Intra-Review Changes Galore; High-Impact Replacement Names

The Top 10 F250 potential ADDs could outperform the F250 index since there are many intra-review addition possibilities and these names are high...

Janaghan Jeyakumar, CFA

Tesserent (TNT AU): Scheme Meeting on 18 September

FIRB and shareholder approval should be forthcoming, At the last close price and for the 4 October payment, the gross and annualised spread is 4.0%...

Arun George

Quiddity Leaderboard for UK F100/​​250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs

On average, there could be around 20 days of volume to buy for the top four F250 potential ADDs according to our estimates and I see a decent...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard for UK F100/250 June 23: 20+ Days to Buy for Top-Ranked F250 Potential ADDs