Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

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Event-Driven

<p>On 2 September 2019, the Board of <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:24409:1">Xiaomi Corp (1810 HK)</a> announced that they would repurchase shares in the market from time to time at a maximum aggregate value of HK$12 billion. After purchasing over 91m shares in September at a cost of HK$825m and another 11.2m shares in October at a cost of HK$100m, the buyback has gone quiet for a month now to comply with the Exchange dealing restrictions that prohibit companies from buying back their shares in the one month prior to a Board meeting for approval of results. The Board meets next week to approve Q3 results and the buyback can resume the following day. The stock is now trading almost 7% lower than the company's average purchase price.</p><p>In this Insight, we look at Xiaomi's stock performance since listing, the history of its buyback program, the company's ability to fund the buyback, and at the short interest build up on the stock.</p>

On 2 September 2019, the Board of Xiaomi Corp (1810 HK) announced that they would repurchase shares in the market from time to time at a maximum aggregate value of HK$12 billion. After purchasing over 91m shares in September at a cost of HK$825m and another 11.2m shares in October at a cost of HK$100m, the buyback has gone quiet for a month now to comply with the Exchange dealing restrictions that prohibit companies from buying back their shares in the one month prior to a Board meeting for approval of results. The Board meets next week to approve Q3 results and the buyback can resume the following day. The stock is now trading almost 7% lower than the company's average purchase price.In this Insight, we look at Xiaomi's stock performance since listing, the history of its buyback program, the company's ability to fund the buyback, and at the short interest build up on the stock.

Xiaomi Corp (1810 HK) - Stalled Buyback Should Restart