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

Dalrymple Bay Infrastructure L / Equity Bottom-Up

<ul><li>Dalrymple Bay Infrastructure has appeal to investors seeking dependable and growing yield and defensive elements for their portfolio.</li><li> Dalrymple Bay Infrastructure&rsquo;s first half result in line with consensus Full year dividend guidance suggests 8% growth Approximately $371m of NECAP projects underway The company benefits from attractive risk mitigants</li></ul>

Dalrymple Bay Infrastructure has appeal to investors seeking dependable and growing yield and defensive elements for their portfolio. Dalrymple Bay Infrastructure&rsquo;s first half result in line with consensus Full year dividend guidance suggests 8% growth Approximately $371m of NECAP projects underway The company benefits from attractive risk mitigants

Dalrymple Bay's Strong Yield Growth Outlook

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.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/qube-holdings-ltd" target="_blank" data-smartkarma-citation="entities:958:1" rel="noopener">Qube Holdings (QUB AU)</a> IE considers the Macquarie Asset Management’s scheme offer at A$5.20 to be fair and reasonable, as it falls within its valuation range of A$4.93-5.41.</li>
<li>The key scheme conditions are shareholder approval, FIRB approval, OIO approval, and ACCC approval. Regulatory approvals should be forthcoming, and the scheme vote is low risk.</li>
<li>The offer is attractive. At the last close and for a 28 July payment, the gross/annualised spread of the A$5.1465 offer (A$5.20 less the A$0.053 interim dividend) is 2.7%/10.5%.  </li>
</ul>


The Qube Holdings (QUB AU) IE considers the Macquarie Asset Management’s scheme offer at A$5.20 to be fair and reasonable, as it falls within its valuation range of A$4.93-5.41.
The key scheme conditions are shareholder approval, FIRB approval, OIO approval, and ACCC approval. Regulatory approvals should be forthcoming, and the scheme vote is low risk.
The offer is attractive. At the last close and for a 28 July payment, the gross/annualised spread of the A$5.1465 offer (A$5.20 less the A$0.053 interim dividend) is 2.7%/10.5%.  


Qube Holdings (QUB AU): Scheme Vote on 16 June

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Zijin Gold International / Index Rebalance

<ul>
<li>The review period for the March rebalance of this global index ended 31 December, the changes should be announced on 20 February and implemented at the close on 20 March.</li>
<li>For Asia Pac ex Japan, we forecast 266 changes (adds, deletes, migrations) for the index. Of those, 63 stocks could have over US$20m to trade from passive trackers.</li>
<li>The forecast passive buys have outperformed the headlines indices in all major markets and there could be some profit-taking following announcement of the changes.</li>
</ul>


The review period for the March rebalance of this global index ended 31 December, the changes should be announced on 20 February and implemented at the close on 20 March.
For Asia Pac ex Japan, we forecast 266 changes (adds, deletes, migrations) for the index. Of those, 63 stocks could have over US$20m to trade from passive trackers.
The forecast passive buys have outperformed the headlines indices in all major markets and there could be some profit-taking following announcement of the changes.


Asia Pac: (Forecast) Global Index Changes in March as Adds Outperform Bigly

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 24th (reported today). The aggregated short interest was USD27.5bn.</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 Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 24th (reported today). The aggregated short interest was USD27.5bn.
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 Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals.


ASX Short Interest Weekly (Oct 24th): Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 17th (reported today). The aggregated short interest was USD27.3bn.</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 Northern Star Resources, Transurban, ANZ, CSL, Macquarie.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 17th (reported today). The aggregated short interest was USD27.3bn.
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 Northern Star Resources, Transurban, ANZ, CSL, Macquarie.


ASX Short Interest Weekly (Oct 17th): Northern Star Resources, Transurban, ANZ, CSL, Macquarie

Australia

Dalrymple Bay Infrastructure Limited provides infrastructure construction services. The Company offers port infrastructure and services for producers and consumers of coal exports. Dalrymple Bay Infrastructure serves clients in Australia.

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Dalrymple Bay Infrastructure L (DBI AU)

Dalrymple Bay's Strong Yield Growth Outlook

Dalrymple Bay Infrastructure has appeal to investors seeking dependable and growing yield and defensive elements for their portfolio. Dalrymple...

FNArena

Qube Holdings (QUB AU): Scheme Vote on 16 June

A day after the scheme vote passed, the ACCC approved the transaction. FIRB and OIO approvals should also be forthcoming. At the last close and for...

Arun George

Asia Pac: (Forecast) Global Index Changes in March as Adds Outperform Bigly

There will be over 250 changes in AP for a global index in March. The large adds have outperformed their country indices over the last few months...

Brian Freitas

ASX Short Interest Weekly (Oct 24th): Reece, Bluescope Steel, APA, Transurban, Sigma Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Reece, Bluescope Steel, APA, Transurban, Sigma...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 17th): Northern Star Resources, Transurban, ANZ, CSL, Macquarie

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Transurban, ANZ, CSL,...

Ke Yan, CFA, FRM

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