In today’s briefing:
- Last Week In Event SPACE: Vingroup/VinFast, Prosus/Naspers, STAR CM
- ECM Weekly (3rd Sep 2023) – Doosan, VNG, Tuhu, Integral, ARM, Zomato, APM, Auckland Int, Daiwa REIT
Last Week In Event SPACE: Vingroup/VinFast, Prosus/Naspers, STAR CM
- Marginal float helped fuel the VinFast (VFS US) bubble. Then it popped.
- The Prosus (PRX NA)/Naspers (NPN SJ) Circularity Detour and subsequent unwind created the B-Share construct which means they can maintain the voting control in South Africa without maintaining economic control.
- The backlash against Star CM Holdings (6698 HK) calls into question the broader Chinese entertainment industry, and how it strikes a balance between viewership/profitability and ethical boundaries.
ECM Weekly (3rd Sep 2023) – Doosan, VNG, Tuhu, Integral, ARM, Zomato, APM, Auckland Int, Daiwa REIT
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- In the IPO space, we primarily looked at Doosan Robotics, Tuhu Car and VNG (VNG US).
- There were placements in AIA NZ , Ventia (VNT AU), FIVESTAR IN and Daiwa House Reit. ZOMATO IN also had large blocks post its acquisition led lockup release.
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