In today’s briefing:
- Origin Energy: Brookfield’s Energy Transition Bet
- Lygend Resources & Technology Pre-IPO Peer Comp – Peers Have Underperformed over the past Year
- Hyosung Advanced Materials: Market Share Gains in Global Carbon Fiber Could Result in a Re-Rating
Origin Energy: Brookfield’s Energy Transition Bet
- Brookfield and EIG/MidOcean are Offering Origin Energy (ORG AU) shareholders $9.00/share, a 54.9% premium to last close, by way of a Scheme. The Offer is non-binding and indicative.
- Negotiations kicked off at $7.95 for the LNG developer in early August. Exclusive due diligence has been granted.
- A firm offer will be contingent on ACCC and FIRB approval. Such a takeover may actually play into the Albanese government’s future energy plans.
Lygend Resources & Technology Pre-IPO Peer Comp – Peers Have Underperformed over the past Year
- Lygend Resources & Technology (LR HK) is looking to raise about US$600m in its upcoming 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.
- In this note, we look at peers and undertake a peer comparison.
Hyosung Advanced Materials: Market Share Gains in Global Carbon Fiber Could Result in a Re-Rating
- We have a positive rating on Hyosung Advanced Materials. We believe the stock has a 25%+ upside over the next 12 months.
- The company recently announced that it has succeeded in developing an ultra-high-strength carbon fiber which is 14 times stronger than steel.
- There is an opportunity for the share price to be re-rated going forward if the company succeeds in grabbing higher share in the global carbon fiber market segment.
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