In today’s briefing:
- PCOMP Index Rebalance Preview Feb 23: Updated Methodology to Drive Changes
- CALB Pre-IPO – PHIP Updates – Growth Picking up Further, Margins Turnaround
- WCP IPO – 2Q22 Updates and Valuation Refresh
PCOMP Index Rebalance Preview Feb 23: Updated Methodology to Drive Changes
- From December 2022, the minimum free float requirement to be a part of the Philippines Stock Exchange PSEi Index (PCOMP INDEX) increases from 15% to 20%.
- This could result in three deletions from the index which will result in three stocks being added to the index. Passive trackers selling the deletes will push the stocks lower.
- The three current constituents could remain in the index if they sell stock to increase the free float. That would in turn put downward pressure on the stocks.
CALB Pre-IPO – PHIP Updates – Growth Picking up Further, Margins Turnaround
- CALB aims to raise around US$1.5bn in its Hong Kong IPO.
- CALB undertakes design, R&D, production and sales of EV batteries and Energy Storage Systems (ESS) products.
- In this note, we talk about the updates from the company’s recent PHIP filings.
WCP IPO – 2Q22 Updates and Valuation Refresh
- WCP aims to raise around US$690m via selling a mix of primary and secondary shares in its Korean IPO. Its demand forecasting is slated to take place today and tomorrow.
- WCP designs, manufactures, and sells separators, which are one of the four core materials for secondary Lithium-ion batteries
- In this note, we will talk about the updates from the revised filing, and re-look at valuations.
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