JPX Nikkei 400 Index Rebalance: Big Turnover, Big Impact & A Market Consultation
There are 41 adds and 40 deletes for the JPX NK 400 Index. One-way turnover is high at 8.16% and will result in a trade of JPY 468bn. There will be...
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JD Logistics IPO: Trading Debut
JD Logistics priced its IPO at HK$40.36 and stood 31% higher at HK$53.00 in the grey market. Our DCF sensitivity and relative valuation analysis...
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JD Logistics IPO: Valuation Insights
The net proceeds are $3.2 billion at the mid-point of the IPO price range. We think that the IPO price range is attractive due to JD Logistics'...
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JD Logistics IPO: Valuation and Forecast Update
JD Logistics is set to launch its IPO to raise $3-4 bn in May. The rumoured $40 bn valuation is fair, particularly in the context of its...
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TOPIX Inclusions: A Look at TSE1 Direct Listings
TSE Listings come in multiple flavors. TSE1 Direct Listings are generally treated outside the normal framework because a) there are few, b) they...
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