In today’s briefing:
- An Exposed Target for Flow Trading on KQ150 Ad-Hoc Change by BH’s KOSPI Transfer Listing
- If HKBN Gets Taken Out, Who’s Next?
- Yuanta/P-Shares Taiwan Dividend Plus ETF: June Rebalance Preview
- Seedly Co-Founders’ AI-Powered Healthtech Startup Raises $1.3m
- Ten Taiwan Tech Stocks With Largest Rising Institutional Ownership
- [Kanzhun Ltd. (BZ US) Earnings Preview]: Weak Hiring Sentiments Drag Down Growth Trend
- Indonesian E-Medical Records Startup Zi.Care Attracts US$2M Funding
- Quiddity Leaderboard TWSE Div+ Jun 23: Take the Win on YFY Now
- BetterPlace Acquires Malaysian On-Demand Frontline Workers Firm Troopers
- Vietnamese Online Coding School MindX Nets US$15M Series B Financing
An Exposed Target for Flow Trading on KQ150 Ad-Hoc Change by BH’s KOSPI Transfer Listing
- BH Co Ltd (090460 KS) will likely complete the transfer listing by early May, suggesting an ad-hoc change may occur before the regular rebalancing of the KOSDAQ 150 in June.
- BH’s GICS sector is INFORMATION TECHNOLOGY. It means the top reserved issue at the previous review gets to replace BH. At this point, it will be HFR Inc (230240 KS).
- We should build up a Long position on HFR right after KRX approves BH’s transfer and then close it on the next trading day after the KQ150 corporate action announcement.
If HKBN Gets Taken Out, Who’s Next?
- HKBN Ltd (1310 HK) spiked 12.3% yesterday in response to media reports (like this one) that China Mobile (941 HK) was running a ruler over the company.
- This follows Bloomberg reports last month and in May last year, that I Square’s HGC Global Communications and numerous PE outfits were kicking tyres of the Hong Kong broadband play.
- Over the weekend, Hong Kong’s security chief was quoted as saying “the internet could become a major loophole when maintaining national security“. HKT (6823 HK) is a potential privatisation candidate.
Yuanta/P-Shares Taiwan Dividend Plus ETF: June Rebalance Preview
- Using data from the close on 19 April, there could be 5 changes to the Yuanta/P-Shares Taiwan Dividend Plus ETF in June.
- There will also be capping and funding flows that will lead to a one-way turnover of 13.6% and a one-way trade of US$885m.
- There are 10 stocks with at least 3 days ADV to trade from passive trackers and another 10 stocks that have at least 1 day ADV to trade.
Seedly Co-Founders’ AI-Powered Healthtech Startup Raises $1.3m
- Singapore’s Mito Health is one of the growing number of healthtech startups jumping on the AI bandwagon.
- It’s the new venture of Kenneth Lou and Tee-Ming Chew, who co-founded and exited personal finance firm Seedly in 2022.
- Using diagnostic results and wearable data, Mito Health plans to create personalized health plans for customers by augmenting medical expertise with AI.
Ten Taiwan Tech Stocks With Largest Rising Institutional Ownership
- We analyze increase in institutional ownership across our Taiwan Tech universe.
- Realtek, Nuvoton, Powerchip, Faraday Technology stand out as stocks that have had rising institutional ownership but have traded flat over the same period. Realtek will have earnings April 21st.
- Advanced Energy has fallen in price even as institutions appear to have accumulated the stock.
[Kanzhun Ltd. (BZ US) Earnings Preview]: Weak Hiring Sentiments Drag Down Growth Trend
- We expect BZ to report 1Q23 revenue and non-GAAP net income in-line with consensus. Our 2023 revenue and non-GAAP net income are (5.3%) and (37.8%)
- Lower than consensus, mainly due to 1) weaker growth outlook, 2) lower gross margin and 3) higher S&M cost;
- BZ platform’s supply side growth outpaced demand side in the spring season, indicating a weak recovery in recruiting. We maintain SELL rating and TP at US$13.5.
Indonesian E-Medical Records Startup Zi.Care Attracts US$2M Funding
- Singapore-based early-stage VC firm Oriza Greenwillow Technology Fund has committed to investing US$2 million in Indonesian startup Zi.Care, which digitises medical records for hospitals.
- The Jakarta-headquartered electronic medical records (EMR) startup is eyeing a total of US$3 million in this Series A round. Several other regional VCs will also be invited to participate.
- The startup will use funds to strengthen its focus on increasing digitalisation in the health sector.
Quiddity Leaderboard TWSE Div+ Jun 23: Take the Win on YFY Now
- In this insight, we take look at Quiddity’s estimations for index changes and capping flows for the Taiwan Div+ index for the June 2023 review.
- I currently see 4 ADDs/DELs but there are several names close to the border and expectations could change before the base date as prices move around.
- My latest estimation for one-way flow is around US$778mn which translates to a turnover of approximately 12%.
BetterPlace Acquires Malaysian On-Demand Frontline Workers Firm Troopers
- BetterPlace, SaaS-based frontline workforce management platform in India, has announced the acquisition of Malaysia-based Troopers, a provider of on-demand, pre-screened, part-time frontline workers to enterprises.
- The transaction details remain undisclosed.
- The deal will allow BetterPlace to accelerate its presence and establish a stronger foothold in Southeast Asia. It will integrate Troopers’s automated gig matching and rostering features into BetterPlace’s SaaS platform.
Vietnamese Online Coding School MindX Nets US$15M Series B Financing
- MindX, an online coding school in Vietnam, has secured US$15M a Series B financing round, led by Kaizenvest.
- Aksorn, Mynavi Corporation, and Wavemaker Partners also joined the round.
- The edutech startup will use the money to grow its platform, expand its reach into smaller cities and rural areas, as well as to create more educational content.
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