In today’s briefing:
- Taihan Electric Wire: Rights Offering of 50% of Outstanding Shares
- Monthly Container Shipping Tracker | Lapping Easy Comps | Red Sea Re-Routes & More (December 2023)
Taihan Electric Wire: Rights Offering of 50% of Outstanding Shares
- Last week, Taihan Electric Wire announced a rights offering of 50% of its outstanding shares. The company is expected to raise 526 billion won.
- Taihan Electric Wire is expected to use the rights offering proceeds to mostly expand its submarine cable production.
- With the share price falling 21% since the announcement of the rights offering last week, Taihan Electric Wire looks more attractive.
Monthly Container Shipping Tracker | Lapping Easy Comps | Red Sea Re-Routes & More (December 2023)
- As we begin lapping easy comps, our momentum index looks “less bad”
- Red Sea re-routes, interest rate moves, fuel all helped lift shares recently
- We think lots of bad news has been priced into shares at current levels
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