In today’s briefing:
- Kawasaki Heavy (7012) | Hydrogen Strategy Ignites Stock Market
- Redox IPO – Family Owned with a Long Track Record
- Skymark Airlines Lockup Expiry – Still Doesn’t Seem Cheap with 50% of the Shares Being Unlocked
Kawasaki Heavy (7012) | Hydrogen Strategy Ignites Stock Market
- Japan’s newly approved hydrogen strategy has ignited a stock market rally in related names: KHI (+20%) Iwatani (+15%) Kansai Elec (+2%)
- Japan government approved higher supply targets for hydrogen to bring the hydrogen strategy in line with the most recent energy mix targets
- Kawasaki Heavy Industries plays a key role in Japan’s hydrogen supply chain, specializing in liquefied hydrogen and innovative initiatives
Redox IPO – Family Owned with a Long Track Record
- Redox (RDX AU), a chemical and ingredients distributor, is looking to raise around US$270m in its Australia IPO.
- In 2022 it was ranked as the largest chemicals and ingredients distributor in Australia, as well as the 13th largest in the Asia Pacific region and the 35th largest worldwide.
- In this note, we will look at the company’s past performance.
Skymark Airlines Lockup Expiry – Still Doesn’t Seem Cheap with 50% of the Shares Being Unlocked
- Skymark Airlines (9204 JP) raised US$242m in its Japan IPO. The shares began to trade on 14th Dec 2022, its six-month lockup will expire on 11th Jun 2023.
- Skymark Airlines (SA) is a Japanese low-cost airline, being the third largest domestic airline according to the company. Unlike major airlines and other low-cost carriers, Skymark operates only domestic flights.
- In this note, we will talk about the lock-up dynamics and updates since our last note.
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