In today’s briefing:
- Sumber Alfaria Trijaya (AMRT IJ): LQ45 & MSCI Inclusion Done, FTSE Coming Up
- Link Net MTO Set to Launch as Axiata Completes Stake Acquisition
Sumber Alfaria Trijaya (AMRT IJ): LQ45 & MSCI Inclusion Done, FTSE Coming Up
- Sumber Alfaria Trijaya (AMRT IJ) was added to the LQ45 Index in January and the MSCI Indonesia Index in May. The pick-up in liquidity should result in FTSE inclusion.
- If added, passive FTSE trackers will need to buy 631m shares (US$78m; 5 days of ADV) of Sumber Alfaria Trijaya (AMRT IJ) at the close of trading on 16 September.
- Sumber Alfaria Trijaya Tbk Pt (AMRT IJ) trades in line with the average of its peers on EV/EBITDA and forward PE, though it trades expensive as compared to the median.
Link Net MTO Set to Launch as Axiata Completes Stake Acquisition
- Axiata Group (AXIATA MK) and XL Axiata (EXCL IJ) completed the acquisition of a combined 66.03% interest in Link Net (LINK IJ) at IDR4,800 per share.
- Axiata will disclose the details of the MTO in due course. We think that the MTO opens on 7 July with the earliest possible close of 11 August.
- At the last close, the gross and annualised spread of a 19 August payment is 3.7% and 23.7%, respectively.
Before it’s here, it’s on Smartkarma
