In today’s briefing:
- Merger Arb Mondays (05 Feb) – Hollysys, JSR, Benesse, Benefit One, Glosel, OreCorp, QV Equities
- Taiwan Top 50 ETF Rebalance Preview: Short Covering Drives Alchip (3661 TT) Higher
- Bharti Hexacom Pre-IPO Tearsheet
Merger Arb Mondays (05 Feb) – Hollysys, JSR, Benesse, Benefit One, Glosel, OreCorp, QV Equities
- We summarise the latest spreads and newsflow of merger arb situations we cover across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Philippines, Thailand and Chinese ADRs.
- Highest spreads – Hollysys Automation Technologies (HOLI US), Shinko Electric Industries (6967 JP), JSR Corp (4185 JP), Probiotec Ltd (PBP AU), Genetron Holdings Ltd (GTH US), Adbri (ABC AU).
- Lowest spreads Pact Group Holdings (PGH AU), Tietto Minerals Ltd (TIE AU), Orecorp Ltd (ORR AU), Benesse Holdings (9783 JP), Irc Ltd (1029 HK), T&K Toka Co Ltd (4636 JP).
Taiwan Top 50 ETF Rebalance Preview: Short Covering Drives Alchip (3661 TT) Higher
- Alchip Technologies (3661 TT) could replace Feng Tay Enterprise (9910 TT) in the Yuanta/P-Shares Taiwan Top 50 ETF at the March rebalance.
- Alchip is trading 330% higher from a year ago and this inclusion will come on the heels of the stock being added to global indices in second half of 2023.
- Short interest in Alchip Technologies (3661 TT) has more than halved over the last week and the stock price has moved higher.
Bharti Hexacom Pre-IPO Tearsheet
- Bharti Hexacom (6597372Z IN) is looking to raise up to US$1bn in its upcoming India IPO. The bookrunners are SBI Capital, Axis Capital, BOB Capital, ICICI Securities and IIFL Securities.
- Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
- It offers its services under the brand ‘Airtel’. BH relies on a robust network infrastructure with a mix of owned and leased assets.
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