In today’s briefing:
- Jardine C&C (JCNC SP): Potential MSCI Inclusion as NAV Discount Shrinks
Jardine C&C (JCNC SP): Potential MSCI Inclusion as NAV Discount Shrinks
- Jardine Cycle & Carriage (JCNC SP) was deleted from the SIMSCI Index in November 2020 and could be added back to the index at the upcoming SAIR.
- If added to the index, we estimate passive MSCI trackers will need to buy 7.9m shares (US$176m; 11 days of ADV) at the close on 30 November.
- Jardine Cycle & Carriage (JCNC SP) is trading at a tight discount to its listed holdings and the spread could widen post the MSCI implementation.
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