In today’s briefing:
- (Mostly) Asia-Pac Weekly Risk Arb Wrap: Azure, EOFlow, Hollysys, Essential Metals, Celltrion Health
- SK Bioscience (302440 KS): Significantly Improved 3Q Result Benefitted From One-Time Payment
(Mostly) Asia-Pac Weekly Risk Arb Wrap: Azure, EOFlow, Hollysys, Essential Metals, Celltrion Health
- I tally 40 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
- Two new deal was discussed on Smartkarma this week: Sociedad Quimica y Minera (SQM/B CI) tilt for Azure Minerals (AZS AU); and another MBO for Hollysys Automation Technologies (HOLI US).
- Key updates took place for: Energy One Ltd (EOL AU), EOFflow (294090 KS) , and Celltrion Healthcare (091990 KS)
SK Bioscience (302440 KS): Significantly Improved 3Q Result Benefitted From One-Time Payment
- In 3Q23, revenue jumped 2.5x YoY and 12.1x QoQ to KRW231.8 billion, mainly due to the inflow related to Novavax vaccine contract settlement and resumption of flu vaccine production.
- Despite significantly improved Q3 result, SK Bioscience is expected to end 2023 on a weak note, due to the absence of contract manufacturing revenue from Novavax.
- SK Bioscience has applied for EUA for the updated Novavax COVID-19 vaccine in Korea. Once approved, the company targets to distribute the vaccine during 2023–2024 winter seasons in Korea.
💡 Before it’s here, it’s on Smartkarma
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