Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Equity Analyst with experience in fundamental and event-driven research in Frontier and Emerging markets. 

On Smartkarma, I mainly publish insights on index flow events in the Asia-Pacific region. This includes predicting regular and intra-review index changes and estimating upcoming passive flows. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Pan-Asia Index Flows & Special Situations

Allcargo (AGLL IN): Process Reinitiated! 70%+ Up Now. Should You Still Chase?

Allcargo (AGLL IN): Shareholders Reject! What Now?

The Rise of Shareholder Activism in India

Allcargo Logistics (AGLL IN): Indian Delisting Offer Trading Cheap

Allcargo Logistics (AGLL IN): Shareholder Vote Encouraging. Buying Opportunity.

Failed Exit Offers in India: Lessons for VEDL, ADANI, and HEXW?

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<div><p>On 24th August 2020, India-based integrated logistics company <a href="https://www.smartkarma.com/entities/allcargo-logistics-ltd" target="_blank" data-smartkarma-citation="entities:10602:1" rel="noopener">Allcargo Logistics (AGLL IN)</a> announced they had received a “<a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/9bf60829-9be9-4e37-b6c2-234cc3203040.pdf" target="_blank" rel="noopener">Delisting Proposal Letter</a>" from members of its Promoter Group (Shashi Kiran Shetty and Talentos Entertainment Private Limited).</p></div><div>
<p>The Promoters collectively hold 172.0mn shares in Allcargo representing a 70.01% stake and the Offer will be made to acquire the remaining 73.7mn shares representing a 29.99% stake.</p>
<p>When the Deal was announced the stock was trading at INR109.00.</p>
<p>In my first insight, <a href="https://www.smartkarma.com/insights/allcargo-logistics-agll-in-indian-delisting-offer-trading-cheap" target="_blank" data-smartkarma-citation="insights:43137" rel="noopener">Allcargo Logistics (AGLL IN): Indian Delisting Offer Trading Cheap</a>, I mentioned that Allcargo's multiples were inexpensive compared to peers and since the control premium at that price was insufficient, I expected "<em>the share price to gradually move up as the Deal progresses</em>". In October 2020, when the shares were at INR118.70, I reiterated my Bullish stance in <a href="https://www.smartkarma.com/insights/allcargo-logistics-agll-in-shareholder-vote-encouraging-buying-opportunity" target="_blank" data-smartkarma-citation="insights:44464" rel="noopener">Allcargo Logistics (AGLL IN): Shareholder Vote Encouraging. Buying Opportunity.</a> </p>
<p>So far the stock has gained 42% from its undisturbed level.</p>
<p><em>With the finish line approaching, read below to find out more about the upside potential of this situation. </em> </p>
</div>

On 24th August 2020, India-based integrated logistics company Allcargo Logistics (AGLL IN) announced they had received a “Delisting Proposal Letter" from members of its Promoter Group (Shashi Kiran Shetty and Talentos Entertainment Private Limited).
The Promoters collectively hold 172.0mn shares in Allcargo representing a 70.01% stake and the Offer will be made to acquire the remaining 73.7mn shares representing a 29.99% stake.
When the Deal was announced the stock was trading at INR109.00.
In my first insight, Allcargo Logistics (AGLL IN): Indian Delisting Offer Trading Cheap, I mentioned that Allcargo's multiples were inexpensive compared to peers and since the control premium at that price was insufficient, I expected "the share price to gradually move up as the Deal progresses". In October 2020, when the shares were at INR118.70, I reiterated my Bullish stance in Allcargo Logistics (AGLL IN): Shareholder Vote Encouraging. Buying Opportunity. 
So far the stock has gained 42% from its undisturbed level.
With the finish line approaching, read below to find out more about the upside potential of this situation.  


Allcargo (AGLL IN): +42% Up So Far. How Much More to Go?