Daily Brief Industrials: Zhejiang Expressway Co H, TRYT , Medi Assist Healthcare Services, Ryanair Holdings and more

• On the 6 November 2023, Zhejiang Expressway Co H (576 HK) announced its rights offering on both its H-Shares and its A-Shares, previously mooted on 23 May.
• The rights were discussed by Travis Lundy in Zhejiang Expressway (576 HK) Rights Offering – The Dynamics May Be Interesting. He liked the stock.  That was a good call. 
• The current implied stub – net of Expressway’s 40.3% look-through stake in Zheshang Securities (601878 CH) – is back to pre-Covid levels.  I’d be looking to unwind the stub here. 

• TRYT (9164 JP) was listed on the TSE on 22nd July 2023. The IPO had been a 100% secondary offering. 
• TRYT offers employee placement services and temporary staffing services for the elderly care, nursing care and childcare workers segments.
• Coming up for six-month lockup is the sole pre-IPO investor who had sold some of its stake earlier in the IPO.

• Medi Assist Healthcare Services (0886371D IN) is looking to raise around US$140m in its India IPO.
• Medi Assist Healthcare Services (Medi Assist) provides third party administration services to insurance companies via its subsidiaries.
• In this note, we will look at the firm’s past performance, and share our thoughts on valuation.

Key points (machine generated)

• Ryanair Holdings is the largest and best capitalized airline in Europe with a low-cost business model.
• Despite being in an industry known for destroying capital, Ryanair has been able to achieve attractive returns on capital and successful growth.
• The author believes Ryanair is a profitable investment option, but recommends readers to conduct their own research before making any investment decisions.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.