Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>Extra Edition of the Broker Call Report</li></ul>

Australian Broker Call *Extra* Edition - Jul 07, 2025

Derivatives and Quantitative Strategist

Gaudenz Schneider

Washington H. Soul Pattinson and Co. Ltd / Equity Bottom-Up

Washington H. Soul Pattinson and Co. Ltd (SOL AU)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/aub-group-limited" target="_blank" data-smartkarma-citation="entities:11179:1" rel="noopener">AUB Group (AUB AU)</a> vs. <a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">Soul Pattinson (SOL AU)</a> Price-Ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.</li>
<li>
Highlights: Going long <a href="https://www.smartkarma.com/entities/aub-group-limited" target="_blank" data-smartkarma-citation="entities:11179:1" rel="noopener">AUB Group (AUB AU)</a> and short <a href="https://www.smartkarma.com/entities/washington-h-soul-pattinson-and-co-ltd" target="_blank" data-smartkarma-citation="entities:6054:1" rel="noopener">Washington H. Soul Pattinson and Co. (SOL AU)</a> targets a 5% return to the statistical mean reversion level.</li>
<li>
Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.</li>
</ul>



Context: The AUB Group (AUB AU) vs. Soul Pattinson (SOL AU) Price-Ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long AUB Group (AUB AU) and short Washington H. Soul Pattinson and Co. (SOL AU) targets a 5% return to the statistical mean reversion level.

Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.


AUB Group (AUB AU) Vs. Soul Pattinson (SOL AU): Aussie Financial Pair Offers Short-Term Opportunity

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 Oct 18th (reported today) which has an aggregated short interest worth USD26.3bn.</li>
<li>We tabulate league table 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 Fortescue, Australia And New Zealand Banking, Evolution Mining, BHP, Webjet.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 18th (reported today) which has an aggregated short interest worth USD26.3bn.
We tabulate league table 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 Fortescue, Australia And New Zealand Banking, Evolution Mining, BHP, Webjet.


ASX Short Interest Weekly (Oct 18th): Fortescue, Australia And New Zealand Banking, Evolution Mining

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

AUB Group Limited / Equity Capital Markets

<ul>
<li>Odyssey is looking to raise A$277m (US$186m) from selling its entire stake in <a href="https://www.smartkarma.com/entities/aub-group-limited" target="_blank" data-smartkarma-citation="entities:11179:1" rel="noopener">AUB Group Limited (AUB AU)</a>.</li>
<li>The PE has been invested since May 2022 with its stake subjected to a two-year escrow period. There have been media reports surrounding the selldown over the past few months.</li>
<li>In this note, we'll run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>


Odyssey is looking to raise A$277m (US$186m) from selling its entire stake in AUB Group Limited (AUB AU).
The PE has been invested since May 2022 with its stake subjected to a two-year escrow period. There have been media reports surrounding the selldown over the past few months.
In this note, we'll run the deal through our ECM framework and comment on deal dynamics.


AUB Group Placement - Well Flagged Selldown Will Clear the Overhang

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 8th May, <a href="https://www.smartkarma.com/entities/psc-insurance-group-ltd" target="_blank" data-smartkarma-citation="entities:24266:1" rel="noopener">PSC Insurance (PSI AU)</a>, a diversified insurance service provider, entered into a Scheme with Ardonagh Group, at A$6.19/share, in cash.</li>
<li>That's a 27.6% premium to undisturbed, and a lifetime high. Directors and key executives holding ~39.6% of shares out, are supportive. </li>
<li>
The Scheme Booklet is now <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02841932-3A648476&amp;v=fc9bdb61fe50ea61f8225e24ce041a0e155a9400" target="_blank" rel="noopener">out</a>, with a Scheme Meeting to be held on the 26th September. Expected implementation on the 11 October. The IE says fair &amp; reasonable.</li>
</ul>


Back on the 8th May, PSC Insurance (PSI AU), a diversified insurance service provider, entered into a Scheme with Ardonagh Group, at A$6.19/share, in cash.
That's a 27.6% premium to undisturbed, and a lifetime high. Directors and key executives holding ~39.6% of shares out, are supportive. 

The Scheme Booklet is now out, with a Scheme Meeting to be held on the 26th September. Expected implementation on the 11 October. The IE says fair &amp; reasonable.


PSC Insurance (PSI AU): 26th Sept Vote On Ardonagh Group's Offer

Australia

AUB Group Limited provides financial services. The Company offers equity-based risk management, insurance broking, and specialist underwriting agencies, as well as focuses on risk solutions for clients and strengthening our partners risk advisory capabilities.

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AUB Group Limited (AUB AU)

Australian Broker Call Extra Edition - Jul 07, 2025

Extra Edition of the Broker Call Report

FNArena

AUB Group (AUB AU) Vs. Soul Pattinson (SOL AU): Aussie Financial Pair Offers Short-Term Opportunity

AUB Group vs. Soul Pattinson price ratio breaks beyond 2 sigma — a short-term statistical setup with defined exit levels and strong historical...

Gaudenz Schneider

ASX Short Interest Weekly (Oct 18th): Fortescue, Australia And New Zealand Banking, Evolution Mining

We analyzed ASX short interest report for the past week and highlight short interest changes in Fortescue, Australia And New Zealand Banking,...

Ke Yan, CFA, FRM

AUB Group Placement - Well Flagged Selldown Will Clear the Overhang

Odyssey is looking to raise A$277m (US$186m) from selling its entire stake in AUB Group Limited (AUB AU). In this note, we'll run the deal through...

Clarence Chu

PSC Insurance (PSI AU): 26th Sept Vote On Ardonagh Group's Offer

Done deal. And trading tight at a 1.3%/13.3% gross/annualised spread. If in, stay in. Or get involved on any dips. Also, run a ruler over PSC peers...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Australian Broker Call *Extra* Edition - Jul 07, 2025

Extra Edition of the Broker Call Report

FNArena

AUB Group (AUB AU) Vs. Soul Pattinson (SOL AU): Aussie Financial Pair Offers Short-Term Opportunity

​AUB Group vs. Soul Pattinson price ratio breaks beyond 2 sigma — a short-term statistical setup with defined exit levels and strong historical...

Gaudenz Schneider

ASX Short Interest Weekly (Oct 18th): Fortescue, Australia And New Zealand Banking, Evolution Mining

We analyzed ASX short interest report for the past week and highlight short interest changes in Fortescue, Australia And New Zealand Banking,...

Ke Yan, CFA, FRM

AUB Group Placement - Well Flagged Selldown Will Clear the Overhang

Odyssey is looking to raise A$277m (US$186m) from selling its entire stake in AUB Group Limited (AUB AU). In this note, we'll run the deal through...

Clarence Chu

PSC Insurance (PSI AU): 26th Sept Vote On Ardonagh Group's Offer

Done deal. And trading tight at a 1.3%/13.3% gross/annualised spread. If in, stay in. Or get involved on any dips. Also, run a ruler over PSC peers...

David Blennerhassett

Australian Broker Call Extra Edition - Jul 07, 2025

AUB Group vs. Soul Pattinson price ratio breaks beyond 2 sigma — a short-term statistical setup with defined exit levels and strong historical...