In today’s briefing:
- Lygend Resources & Technology Pre-IPO – Resting Its Hopes and Dreams on a JV with a Singular Partner
- Shanghai/Shenzhen Northbound Connect: Weekly Moves (28 October 2022)
- Rio Tinto ADR: Initiation of Coverage – Business Strategy
Lygend Resources & Technology Pre-IPO – Resting Its Hopes and Dreams on a JV with a Singular Partner
- Lygend Resources & Technology (LR HK) is looking to raise about US$800m in its Hong Kong IPO.
- Lygend Resources & Technology (Lygend) is a nickel trading and production firm with a portfolio covering multiple areas across the nickel industry value chain.
- With the Obi Project expanding the firm’s capacity into the higher margin production segment, Lygend expects sales and profitability to pick up.
Shanghai/Shenzhen Northbound Connect: Weekly Moves (28 October 2022)
- Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
- Overall, net outflow over the past week was ~US$2.7bn, split between Shanghai (-US$1.8bn) and Shenzhen (-US$0.9bn).
- The largest inflows were into Tianqi Lithium (002466 CH) and Shenzhen Mindray Bio-Medical (300760 CH). The largest outflows were in Kweichow Moutai (600519 CH) and Ping An Insurance (601318 CH).
Rio Tinto ADR: Initiation of Coverage – Business Strategy
- This is our first report on global metals and mining giant, Rio Tinto.
- The company has been witnessing a decent demand for all of its primary commodities as per recent results.
- Moreover, the Rio Tinto Safe Production System is still being effectively implemented, and there are now 15 deployments at 11 sites, up from 5 sites at the beginning of the year.
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