In today’s briefing:
- Index Rebalance & ETF Flow Recap: HSCEI, HSTECH, STAR50, KOSDAQ150, CPSE/CNXBANK, Kenedix Merger
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades-A Rising Tide Lifts All Boats
- Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm
- ECM Weekly (18th June 2023) – JD Property, Tata Tech, SBFC Fin, Auckland Air, Weilong, Sula, Abacus
Index Rebalance & ETF Flow Recap: HSCEI, HSTECH, STAR50, KOSDAQ150, CPSE/CNXBANK, Kenedix Merger
- There were a bunch of rebalances across different index families that were implemented at the close of trading on Friday.
- The coming week is quieter though there are a couple of ad hoc rebalances for the Korea Stock Exchange Kospi 200 Index (KOSPI2 INDEX) and KOSDAQ 150 Index (KOSDQ150 INDEX).
- Yet another week of inflows to Tracker Fund of Hong Kong Ltd (2800 HK) as the number of units outstanding is nearly the highest over the last couple of years.
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades-A Rising Tide Lifts All Boats
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
Viva Biotech Holdings (1873 HK): Fund Raising Through Offloading Stake in CRO Arm
- Viva Biotech Holdings (1873 HK) is raising RMB1.06 billion (~$150 million) through offloading ~24% of its equity interest in Viva Shanghai, the primary entity of the company’s CRO business.
- The consideration implies a revenue ratio and gross profit ratio of 4.90x and 11.04x, respectively. The ratios are at the similar level of the average ratios of other comparable peers.
- Going ahead, Viva Biotech is planning to spin off its CRO business for separate listing in the A-shares market. IPO application is expected to be filed by June 30, 2024.
ECM Weekly (18th June 2023) – JD Property, Tata Tech, SBFC Fin, Auckland Air, Weilong, Sula, Abacus
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- In the IPO space, HK remained quiet with Australia seeing some more action.
- On the placement front, Bain continued to exit Axis Bank Ltd (AXSB IN) while Weilong Delicious Global (9985 HK) and Sula Vineyards had lock-up expiries.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
