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 index changes for S&amp;P ASX 200, 100, 50, and 20 in the run up to the December 2022 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/tassal-group-ltd" target="_blank" data-smartkarma-citation="entities:16234:1" rel="noopener">Tassal (TGR AU)</a>  and <a href="https://www.smartkarma.com/entities/nearmap-ltd" target="_blank" data-smartkarma-citation="entities:5142:1" rel="noopener">Nearmap Ltd (NEA AU)</a> could get deleted from ASX200 before the December Rebalance, triggering high-impact intra-review additions. There should be two changes in the Review itself.</li>
<li>
<a href="https://www.smartkarma.com/entities/pilbara-minerals-ltd" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">Pilbara Minerals (PLS AU)</a> is close to becoming an ASX 50 ADD and <a href="https://www.smartkarma.com/entities/lendlease-group" target="_blank" data-smartkarma-citation="entities:11248:1" rel="noopener">Lendlease Group (LLC AU)</a> is close to becoming an ASX 50 DEL in the December 2022 review.</li>
</ul>


In this insight, we take a look at the potential index changes for S&amp;P ASX 200, 100, 50, and 20 in the run up to the December 2022 Rebalance.

Tassal (TGR AU)  and Nearmap Ltd (NEA AU) could get deleted from ASX200 before the December Rebalance, triggering high-impact intra-review additions. There should be two changes in the Review itself.

Pilbara Minerals (PLS AU) is close to becoming an ASX 50 ADD and Lendlease Group (LLC AU) is close to becoming an ASX 50 DEL in the December 2022 review.


S&P/​​​​​​ASX Quiddity Leaderboard Dec 22: Couple of High-Impact Intra-Review Changes Possible

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

<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

Omni Bridgeway Limited provides investment management services. The Company offers claims securitization, litigation, funding, legal recovery, trading, and other related solutions. Omni Bridgeway serves customer worldwide.

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Omni Bridgeway (OBL AU)

S&P/ASX Quiddity Leaderboard Dec 22: Couple of High-Impact Intra-Review Changes Possible

The list of names leading the race to become intra-review ASX 200 additions seems interesting. If M&A events cause ASX 200 deletions, some of these...

Janaghan Jeyakumar, CFA

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

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S&P/​​​​​​ASX Quiddity Leaderboard Dec 22: Couple of High-Impact Intra-Review Changes Possible

The list of names leading the race to become intra-review ASX 200 additions seems interesting. If M&A events cause ASX 200 deletions, some of these...

Janaghan Jeyakumar, CFA

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

S&P/ASX Quiddity Leaderboard Dec 22: Couple of High-Impact Intra-Review Changes Possible

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