In today’s briefing:
- (Mostly) Asia-Pac M&A: Sermsuk, L’Occitane, Shinko Electric, MMA Offshore, Hollysys
- Weekly Deals Digest (07 Jul) – ESR, L’Occitane, Hollysys, Aisin, Honda, Sanil, Shift Up, Timee
- Quiddity Leaderboard HSTECH Sep 24: Reference Period Over; One Change Likely; US$733mn One-Way
- Last Week in Event SPACE: Barito Renewables, Honda, Raffles Medical, Daidoh, Hanwha Corp
- Quiddity Leaderboard HSCEI Sep 24: Final Ranks and Updated Flow Expectations
(Mostly) Asia-Pac M&A: Sermsuk, L’Occitane, Shinko Electric, MMA Offshore, Hollysys
- I tally 49 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Just one new deal was discussed this week on Smartkarma: Sermsuk PCL (SSC TB)‘s Delisting Offer. There are also rumours of an Offer for Raffles Medical Group (RFMD SP).
- Key updates took place on: L’Occitane (973 HK), Shinko Electric Industries (6967 JP), MMA Offshore (MRM AU), and Hollysys Automation Technologies (HOLI US).
Weekly Deals Digest (07 Jul) – ESR, L’Occitane, Hollysys, Aisin, Honda, Sanil, Shift Up, Timee
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments: Aisin (7259 JP), Honda Motor (7267 JP) placements; Sanil Electric (062040 KS), Shift Up (462870 KS) and Timee Inc (215A JP) IPOs.
- Event-Driven developments: ESR Group (1821 HK), L’Occitane (973 HK), Hollysys Automation Technologies (HOLI US).
Quiddity Leaderboard HSTECH Sep 24: Reference Period Over; One Change Likely; US$733mn One-Way
- The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
- The reference period for the September 2024 index rebal event is now complete. In this insight, we take a look at our final expectations for index changes.
- Our current estimates suggest one-way flows due to index changes and capping could be around US$733mn but that could change by early September 2024.
Last Week in Event SPACE: Barito Renewables, Honda, Raffles Medical, Daidoh, Hanwha Corp
- It’s just a question of when, not if, the bubble bursts for Barito Renewables Energy (BREN IJ), which is up 1,200% since it October 2023 IPO.
- A Reuters article suggests a ¥500bn secondary offering for Honda Motor (7267 JP). Honda has since said there is smoke. And we can assume there is fire.
- Loo Choon Yong, Raffles Medical Group (RFMD SP)‘s founder and major shareholder, continues to chip away at minorities, and now holds 54.944%,
Quiddity Leaderboard HSCEI Sep 24: Final Ranks and Updated Flow Expectations
- The HSCEI serves as a benchmark to reflect the overall performance of the top 50 “Mainland China” securities listed in Hong Kong.
- In mid-June 2024, we had two expected ADDs and DELs for the September 2024 index rebal event and they remain unchanged even after the end of the reference period.
- However, our capping flow expectations continue to change as the pro-forma post-rebalance weights change with share prices. In this insight, we have provided our latest flow estimates.
💡 Before it’s here, it’s on Smartkarma
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