In today’s briefing:
- What We Know Until Now About L&F & Ecopro BM’s Kospi Transfer Listing
- Quiddity Leaderboard TDIV Sep 23: AUM Assumption Changes Again; SHORTs Down 15.6% Vs Index
- Essential Metals/Develop Global: Rock Steady With MinRes Support
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What We Know Until Now About L&F & Ecopro BM’s Kospi Transfer Listing
- Yonhap News reported on the exclusive coverage of Ecopro BM and L&F’s KOSPI transfer listing.
- L&F announced through the disclosure that they are considering the KOSPI transfer listing. Ecopro BM told another local news outlet that they are not currently reviewing the KOSPI transfer listing.
- It seems that L&F’s KOSPI transfer listing is almost a confirmed fact. However, the Ecopro company in question may be Ecopro Co, not Ecopro BM.
Quiddity Leaderboard TDIV Sep 23: AUM Assumption Changes Again; SHORTs Down 15.6% Vs Index
- In this insight, we take a look at Quiddity’s flow expectations for the September 2023 index rebalance.
- Since my last insight, my estimate for the tracking AUM estimate assumption for September 2023 has increased and has caused changes to my flow expectations.
- Separately, the SHORTs suggested in my last insight have underperformed the index by 15.6% in 3 weeks. I have updated my thoughts on that as well.
Essential Metals/Develop Global: Rock Steady With MinRes Support
- At the 20 April Scheme Meeting, Mineral Resources (MIN AU) (with 19.55%) and other shareholders voted against the Tianqi Lithium JV transaction for Essential Metals (ESS AU).
- This left Essential in no man’s land until MinRes (presumably) made a move. But on the 3 July, Develop Global (DVP AU) announced a binding Scheme with ESS.
- The all-scrip Scheme transaction has the backing of MinRes, which also owns a ~13% stake in Develop. This deal – this time- looks all stitched up.