In today’s briefing:
- Last Week in Event SPACE: Japan Post/Japan Post Bank, Downer, HKBN, Golden Energy
- Quiddity Flow Expectations for DAX Mar 23 Rebal: WUW GR Vs SDAX Seems Interesting
Last Week in Event SPACE: Japan Post/Japan Post Bank, Downer, HKBN, Golden Energy
- Big picture: Japan Post (6178 JP) selling 29% of Japan Post Bank (7182 JP) is a Very Big Offering at ¥1.236trln. 80/20 dom/international. A TOUGH sell. 1.089bn shares is 4x float.
- Downer EDI (DOW AU)‘s CEO resigned ahead of announcing accounting irregularities last December. The CFO resigned this week after Downer announced another profit downgrade. Now the chairman is exiting.
- Hong Kong broadband play HKBN Ltd (1310 HK)said it has been approached by I Squares’ HGC. No pricing announced, but talks continue.
Quiddity Flow Expectations for DAX Mar 23 Rebal: WUW GR Vs SDAX Seems Interesting
- The March 2023 index changes for the DAX index family were confirmed after the close on Friday 3rd March 2023.
- There will be one change for DAX, two for MDAX, and two for SDAX mostly in line with our expectations. Separately, there is also a change in TecDAX.
- In this insight, we take a closer look at our expectations for index flows and the recent price and volume performance of the names involved in the index rebalance event.
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