In today’s briefing:
- S&P/ASX Quiddity Leaderboard Sep 2022: Potential ADDs Could Outperform Potential DELs
- Soosan Industries IPO Book Building Results
- Corteva, Inc.: Initiation of Coverage – Business Strategy, Pro Farm Agreement, Herbicides Update, Financial Forecasts, DCF & Comparables Valuation, Key Risks (07/22)
S&P/ASX Quiddity Leaderboard Sep 2022: Potential ADDs Could Outperform Potential DELs
- In this insight, we take a look at the potential index changes for S&P ASX 300, 200, 100, 50, and 20 in the September 2022 Rebalance.
- I expect there to be 7 ADDs and 7 DELs for the ASX 200 Index and 23 ADDs and 18 DELs for the ASX 300 Index.
- Based on recent price performance, I believe the Potential ADDs could outperform the Potential DELs over the next few weeks.
Soosan Industries IPO Book Building Results
- Soosan Industries had disappointing IPO book building results. The demand ratio from the institutional investors was 130 to 1 which is lower than some of the recent IPOs.
- The IPO price has been determined at 35,000 won. Soosan Industries is one of the leading companies in Korea for providing maintenance services for nuclear power plant equipment in Korea.
- Our base case valuation of Soosan Industries is target price of 56,383 won per share, which is 61% higher than the IPO price of 35,000 won.
Corteva, Inc.: Initiation of Coverage – Business Strategy, Pro Farm Agreement, Herbicides Update, Financial Forecasts, DCF & Comparables Valuation, Key Risks (07/22)
- This is our first report on Corteva, a major agricultural player within the seeds and crop protection domain.
- The company registered its Enlist Duo and Enlist One herbicides through 2029 with the U.S.
- EPA.
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