Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On the 4th February 2026, <a href="https://www.smartkarma.com/entities/abacus-group" target="_blank" data-smartkarma-citation="entities:10566:1" rel="noopener">Abacus Group (ABG AU)</a> announced it is in preliminary discussions with 19.7%-held <a href="https://www.smartkarma.com/entities/abacus-storage-king" target="_blank" data-smartkarma-citation="entities:39857:1" rel="noopener">Abacus Storage King (ASK AU)</a> regarding the potential internalisation of ASK’s management functions.</li>
<li>When ABG and ASK de-stapled in 2023, the physical assets went into ASK, while the management function remained with ABG. That is, ASK pays ABG an annual management services fee.</li>
<li>This expected cleaner/delineation structure was likely not lost on <a href="https://www.smartkarma.com/entities/charter-hall-group" target="_blank" data-smartkarma-citation="entities:5593:1" rel="noopener">Charter Hall (CHC AU)</a>, which announced a 5.837% stake in ABG last month. </li>
</ul>


On the 4th February 2026, Abacus Group (ABG AU) announced it is in preliminary discussions with 19.7%-held Abacus Storage King (ASK AU) regarding the potential internalisation of ASK’s management functions.
When ABG and ASK de-stapled in 2023, the physical assets went into ASK, while the management function remained with ABG. That is, ASK pays ABG an annual management services fee.
This expected cleaner/delineation structure was likely not lost on Charter Hall (CHC AU), which announced a 5.837% stake in ABG last month. 


Charter Hall Ups Stake Ahead Of Abacus Group (ABG AU)'s Internalisation

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 10th (reported today). The aggregated short interest was USD42.9bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 10th (reported today). The aggregated short interest was USD42.9bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.


ASX Short Interest Weekly (Apr 10th): BHP, Qbe Insurance, Wesfarmers, Transurban, CAR

<ul>
<li>On the 8th December 2025, <a href="https://www.smartkarma.com/entities/national-storage-reit" target="_blank" data-smartkarma-citation="entities:13762:1" rel="noopener">National Storage REIT (NSR AU)</a> entered into a Scheme with Brookfield and Singapore's GIC.</li>
<li>Brookfield/GIC tabled a A$2.86/share (~1.11x P/NTA 30th June 2025) Offer, the same terms as the 26th November NBIO. In addition to the vote, the transaction required FIRB and OIO approvals.</li>
<li>
<a href="https://announcements.asx.com.au/asxpdf/20260310/pdf/06x827xpj8ywfr.pdf" target="_blank" rel="noopener">The Scheme Booklet is now out</a>, with a Scheme Meeting on the 15th April, and expected implementation on the 8th May 2026. The IE (Kroll) says "fair &amp; reasonable".</li>
</ul>


On the 8th December 2025, National Storage REIT (NSR AU) entered into a Scheme with Brookfield and Singapore's GIC.
Brookfield/GIC tabled a A$2.86/share (~1.11x P/NTA 30th June 2025) Offer, the same terms as the 26th November NBIO. In addition to the vote, the transaction required FIRB and OIO approvals.

The Scheme Booklet is now out, with a Scheme Meeting on the 15th April, and expected implementation on the 8th May 2026. The IE (Kroll) says "fair &amp; reasonable".


National Storage REIT (NSR AU): 15th April Vote On Brookfield/GIC's A$2.86/Share Offer

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>The <a href="https://www.smartkarma.com/entities/national-storage-reit" target="_blank" data-smartkarma-citation="entities:13762:1" rel="noopener">National Storage REIT (NSR AU)</a> IE considers Brookfield and GIC’s scheme offer at A$2.80 to be fair and reasonable, as it falls within its valuation of A$2.72 to A$2.86.</li>
<li>The key scheme conditions are shareholder, FIRB and OIO approval. Regulatory approvals should be forthcoming, and the scheme vote is low-risk.</li>
<li>The offer represents an all-time high, and this is a done deal. At the last close and for an 8 May payment, the gross/annualised spread is 1.1%/6.8%.</li>
</ul>


The National Storage REIT (NSR AU) IE considers Brookfield and GIC’s scheme offer at A$2.80 to be fair and reasonable, as it falls within its valuation of A$2.72 to A$2.86.
The key scheme conditions are shareholder, FIRB and OIO approval. Regulatory approvals should be forthcoming, and the scheme vote is low-risk.
The offer represents an all-time high, and this is a done deal. At the last close and for an 8 May payment, the gross/annualised spread is 1.1%/6.8%.


National Storage REIT (NSR AU): Scheme Vote on 15 April

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Feb 20th (reported today). The aggregated short interest was USD35.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Feb 20th (reported today). The aggregated short interest was USD35.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus.


ASX Short Interest Weekly (Feb 20th): Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus

Price Gauge
52-week Range	0.00 - 0.00
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Abacus Storage King (ASK AU)

Charter Hall Ups Stake Ahead Of Abacus Group (ABG AU)'s Internalisation

Abacus is not expensive versus peers and historical metrics. Abacus Storage's internalisation and the advent of Charter Hall (CHC AU) on the...

David Blennerhassett

ASX Short Interest Weekly (Apr 10th): BHP, Qbe Insurance, Wesfarmers, Transurban, CAR

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.

Ke Yan, CFA, FRM

National Storage REIT (NSR AU): Scheme Vote on 15 April

The offer represents an all-time high, and this is a done deal. At the last close and for an 8 May payment, the gross/annualised spread is 1.1%/6.8%.

Arun George

ASX Short Interest Weekly (Feb 20th): Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus

We analyzed ASX short interest report for the past week and highlight short interest changes in Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Charter Hall Ups Stake Ahead Of Abacus Group (ABG AU)'s Internalisation

Abacus is not expensive versus peers and historical metrics. Abacus Storage's internalisation and the advent of Charter Hall (CHC AU) on the...

David Blennerhassett

ASX Short Interest Weekly (Apr 10th): BHP, Qbe Insurance, Wesfarmers, Transurban, CAR

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.

Ke Yan, CFA, FRM

National Storage REIT (NSR AU): 15th April Vote On Brookfield/GIC's A$2.86/Share Offer

Clean deal. Trading tight (as it has done from the onset) at ~1.3%/8.2% gross/annualised. Note: the Offer Price is now A$2.80/share after netting...

David Blennerhassett

National Storage REIT (NSR AU): Scheme Vote on 15 April

The offer represents an all-time high, and this is a done deal. At the last close and for an 8 May payment, the gross/annualised spread is 1.1%/6.8%.

Arun George

ASX Short Interest Weekly (Feb 20th): Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus

We analyzed ASX short interest report for the past week and highlight short interest changes in Zip, JB Hi-Fi, Goodman, CSL, Pro Medicus.

Ke Yan, CFA, FRM