In today’s briefing:
- S&P/ASX Index Rebalance Preview: Regular & Ad Hoc Changes in June
- QV Equities (QVE AU): 28th June Shareholder Vote
- Surge leads self-service customer support platform Brainfish’s US$2.5M seed round | e27
S&P/ASX Index Rebalance Preview: Regular & Ad Hoc Changes in June
- With the review period complete, we take a look at the potential index changes at the June rebalance as well as potential index inclusions due to M&A.
- Timing is key for the ad hoc inclusions to the S&P/ASX 200 (AS51 INDEX) with an ad hoc inclusion being announced prior to the regular announcement.
- Passive trackers will need to buy 1.3-27x ADV on the expected adds and have 0.8-4.7x ADV to sell on the expected deletes. Shorts have built up on the potential deletes.
QV Equities (QVE AU): 28th June Shareholder Vote
- On the 12th March, Aussie-based investment plays QV Equities Ltd (QVE AU) and WAM Leaders Ltd (WLE AU) entered into a Scheme.
- The current scrip terms are 0.739 new WAM shares per QVE share; OR A$0.989/share cash. Terms will be adjusted for updated pre-tax NTA/shares of both companies after the Scheme Meeting.
- The Scheme Booklet is now out, with a Scheme Meeting to be held on the 28th June. Expected implementation on the 15 July. The IE says fair & reasonable.
Surge leads self-service customer support platform Brainfish’s US$2.5M seed round | e27
- Brainfish, an AI-powered self-service customer support platform for businesses, has raised US$2.5 million in seed funding.
- The latest round was led by Peak XV’s Surge, with participation from Macdoch Ventures, Black Sheep Capital, existing angel Justus Hammer (CEO MadPaws), and new angels.
- This brings its total capital to US$3.3 million.
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