In today’s briefing:
- ECM Weekly (24th Sep 2023) – Cainiao, J&T, Midea, Kokusai, Seoul Guarantee, Barito, Integral, DPC
- Hyatt Hotels Corporation: Key Initiatives to Boost Loyalty and Attract New Guests! – Major Drivers
- Index Rebalance & ETF Flow Recap: HSI, HSCI, ASX, SET50, Wharf, SK Tel, Tata Motors, Midea, PCOMP
ECM Weekly (24th Sep 2023) – Cainiao, J&T, Midea, Kokusai, Seoul Guarantee, Barito, Integral, DPC
- 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, Kokusai Electric (6525 JP) filed for it Japan listing, while Midea Group Co Ltd A (000333 CH) continued to work towards its H-share listing.
- In the placement space, there were no major deals this week apart from Blue Star and Sheela Foam Ltd (SFL IN).
Hyatt Hotels Corporation: Key Initiatives to Boost Loyalty and Attract New Guests! – Major Drivers
- Hyatt Hotels Corporation’s results were a major disappointment as the company failed to meet Wall Street’s revenue and earnings expectations.
- The ongoing transformation of Hyatt is gaining momentum, with second-quarter results reinforcing their confidence in executing the strategy outlined during the Investor Day in May.
- Hyatt has set ambitious targets, aiming to achieve $750 million in free cash flow and an 80% asset-light earnings mix by 2025.
Index Rebalance & ETF Flow Recap: HSI, HSCI, ASX, SET50, Wharf, SK Tel, Tata Motors, Midea, PCOMP
- The coming week has the rebalance implementation for the NIFTY family of indices on Thursday and the Nikkei 225 (NKY INDEX) on Friday.
- The review period for the December rebalance of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and the HSCI Index ends on Friday.
- Inflows to mainland China ETFs resumed following a pause as markets continue to trade weak.
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