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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-ag-84b1a20a-a381-401b-aa06-25b303fce01e" target="_blank" data-smartkarma-citation="entities:25035:1" rel="noopener">Syngenta AG (SYNN SW)</a> has passed the listing committee meeting to raise CNY 65bn (US$9.1bn) in a Main Board listing on the Shanghai Stock Exchange.</li>
<li>We forecast <a href="https://www.smartkarma.com/entities/syngenta-ag-84b1a20a-a381-401b-aa06-25b303fce01e" target="_blank" data-smartkarma-citation="entities:25035:1" rel="noopener">Syngenta AG (SYNN SW)</a> will be added to the SSE180 Index, <a href="https://www.smartkarma.com/entities/shanghai-stock-exchange-sse-50-a-share-index" target="_blank" data-smartkarma-citation="entities:31073:1" rel="noopener">SSE50 Index</a> and the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300 Index (SHSZ300 INDEX)</a> indices at the December rebalance.</li>
<li>Inclusion in the SSE A Share Index could take a year and that will hold up inclusion in Northbound Stock Connect and consequently in global indices.</li>
</ul>



Syngenta AG (SYNN SW) has passed the listing committee meeting to raise CNY 65bn (US$9.1bn) in a Main Board listing on the Shanghai Stock Exchange.
We forecast Syngenta AG (SYNN SW) will be added to the SSE180 Index, SSE50 Index and the CSI 300 Index (SHSZ300 INDEX) indices at the December rebalance.
Inclusion in the SSE A Share Index could take a year and that will hold up inclusion in Northbound Stock Connect and consequently in global indices.


Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Economy /Cover Story: China’s consumers are flush with cash, so why does the recovery have the wobbles?</li><li>Ukraine-Russia /: Russia, Ukraine open to peace talks but obstacles remain, China’s peace envoy says</li><li>Debt collection /: Chinese debt collector suspends business after police raids</li></ul>

Economy /Cover Story: China’s consumers are flush with cash, so why does the recovery have the wobbles?Ukraine-Russia /: Russia, Ukraine open to peace talks but obstacles remain, China’s peace envoy saysDebt collection /: Chinese debt collector suspends business after police raids

CX Daily: China’s Consumers Are Flush With Cash, So Why Does the Recovery Have the Wobbles?

<ul>
<li>Edtech /In Depth: New business comes with old risks for China’s struggling tutoring industry</li>
<li>Syngenta /: Syngenta IPO back on hold over concerns about its $9.4 billion goal, sources say</li>
<li>Private /: China’s private sector set for boost as local governments step up support</li>
</ul>


Edtech /In Depth: New business comes with old risks for China’s struggling tutoring industry
Syngenta /: Syngenta IPO back on hold over concerns about its $9.4 billion goal, sources say
Private /: China’s private sector set for boost as local governments step up support


CX Daily: New Business Comes With Old Risks for China’s Struggling Tutoring Industry

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/syngenta-ag-84b1a20a-a381-401b-aa06-25b303fce01e" target="_blank" data-smartkarma-citation="entities:25035:1" rel="noopener">Syngenta AG (SYNN SW)</a>, a world-class agribusiness, is seeking to raise US$9.5bn in Shanghai’s STAR market at a valuation of US$50bn. The Shanghai bourse will review the filing on 29-March.</li>
<li>The business is in rude health with accelerating growth, market share gains, solid margins and cash generation. The IPO proceeds will help reduce leverage. </li>
<li>A US$50 billion valuation is justifiable and implies a modest discount to peer multiples (including an AH premium). The IPO is worth a look.</li>
</ul>



Syngenta AG (SYNN SW), a world-class agribusiness, is seeking to raise US$9.5bn in Shanghai’s STAR market at a valuation of US$50bn. The Shanghai bourse will review the filing on 29-March.
The business is in rude health with accelerating growth, market share gains, solid margins and cash generation. The IPO proceeds will help reduce leverage. 
A US$50 billion valuation is justifiable and implies a modest discount to peer multiples (including an AH premium). The IPO is worth a look.


APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p><a href="https://www.smartkarma.com/entities/1128" target="_blank" data-smartkarma-citation="entities:1128:1">Nufarm Ltd (NUF AU)</a> is looking to raise about US$349m through a  2 for 9 accelerated renounceable entitlement offer with retail rights. The proceeds will be used to partially fund the acquisition of Century Portfolio from <a href="https://www.smartkarma.com/entities/25035" target="_blank" data-smartkarma-citation="entities:25035:1">Syngenta AG (SYNN SW)</a>.</p><p>The deal scores well on our framework owing to the company's inexpensive valuation relative to global peers. The acquisition is expected to be accretive to the company's EPS before amortization and will help it solidify its market position in Europe by…</p>

Nufarm Ltd (NUF AU) is looking to raise about US$349m through a  2 for 9 accelerated renounceable entitlement offer with retail rights. The proceeds will be used to partially fund the acquisition of Century Portfolio from Syngenta AG (SYNN SW).The deal scores well on our framework owing to the company's inexpensive valuation relative to global peers. The acquisition is expected to be accretive to the company's EPS before amortization and will help it solidify its market position in Europe by…

Nufarm Entitlement Offer - Planting Seeds of Improvement

Switzerland

Syngenta AG produces crop protection products and seeds.  The Company produces herbicides, insecticides and fungicides, and seeds for field crops, vegetables, and flowers.

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Syngenta AG (SYNN VX)

Syngenta IPO - Index Entry Possibilities

Syngenta could raise US$9.1bn selling 20% of its shares. There will be small passive buying in December from locals. Non-inclusion in the SSE A...

Brian Freitas

CX Daily: China’s Consumers Are Flush With Cash, So Why Does the Recovery Have the Wobbles?

Economy /Cover Story: China’s consumers are flush with cash, so why does the recovery have the wobbles? Ukraine-Russia /: Russia, Ukraine open to...

Caixin Global

CX Daily: New Business Comes With Old Risks for China’s Struggling Tutoring Industry

Edtech /In Depth: New business comes with old risks for China’s struggling tutoring industry Syngenta /: Syngenta IPO back on hold over concerns...

Caixin Global

Syngenta IPO: The Investment Case

The business is in rude health with accelerating growth, market share gains, solid margins and cash generation. The IPO proceeds will help reduce...

Arun George

Nufarm Entitlement Offer - Planting Seeds of Improvement

Nufarm Ltd (NUF AU) is looking to raise about US$349m through a 2 for 9 accelerated renounceable entitlement offer with retail rights. The...

Zhen Zhou, Toh

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