In today’s briefing:
- MSCI May 2022 Index Rebalance Preview: Last Week Before the Start of the Review Period
- Tabcorp’s Valuation Discovery into the Demerger
MSCI May 2022 Index Rebalance Preview: Last Week Before the Start of the Review Period
- This is the last trading week before the review period for the MSCI May SAIR commences next week. This is a short week with a lot of markets closed Friday.
- We see 38 potential adds and 63 potential deletes across Asia. Most changes are in China, with the most net deletions in Japan and China.
- The largest potential inclusions are Powerchip Semiconductor Manufacturing, Orient Overseas International, Pop Mart International, Jindal Steel & Power, Eva Airways, Emtek, China Airlines, Sumber Alfaria Trijaya and KT Corp.
Tabcorp’s Valuation Discovery into the Demerger
- Tabcorp Ltd (TAH AU)’s demerger will create two standalone companies listed on the ASX – The Lottery Corporation and New Tabcorp
- The scheme meeting to approve the demerger will be held on 12 May at 10.00 am. The Lottery Corporation will trade on a normal settlement basis on 2 June.
- This transaction aims to unlock value. Our SoTP valuation is A$6.13 per share, which is a 14% upside to the last close price of A$5.39 per share.
Before it’s here, it’s on Smartkarma
