In today’s briefing:
- MSCI May 2023 QCIR Preview: Potential Changes as Review Period Ends
- Nexus Select Trust IPO: The Investment Case
MSCI May 2023 QCIR Preview: Potential Changes as Review Period Ends
- The review period for the price cutoff for the MSCI May Quarterly Comprehensive Index Review (QCIR) ended 28 April. MSCI should select a day from week one.
- The most changes are expected in China and there are a couple of stocks that could trigger the Extreme Price Increase thresholds.
- Some stocks appear on the list of potential changes on certain days during the review period and their addition/deletion will depend on the day that MSCI chooses for computation.
Nexus Select Trust IPO: The Investment Case
- Nexus Select Trust (NST IN), a consumption centre REIT, is seeking to raise up to Rs32 billion (US$391 million). The offer opens from 9-11 May.
- NST, sponsored by Blackstone Group (BX US), owns India’s most extensive portfolio of consumption centres and will be the first publicly listed consumption centre REIT in India.
- The key elements of the investment case rest on strong portfolio performance, high occupancy rates, favourable lease contracts, rental reversion potential and low tenant concentration risk.
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