Asia Pac ECM and Index Rebal, DZT 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 4th (reported today) which has an aggregated short interest worth USD27.1bn.</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 Ampol, Domino'S Pizza Enterprises, BHP, Fortescue.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 4th (reported today) which has an aggregated short interest worth USD27.1bn.
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 Ampol, Domino'S Pizza Enterprises, BHP, Fortescue.


ASX Short Interest Weekly (Oct 4th): Ampol, Domino'S Pizza Enterprises, BHP, Fortescue

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This morning real estate manager <a href="https://www.smartkarma.com/entities/apn-property-group-ltd" target="_blank" data-smartkarma-citation="entities:3730:1" rel="noopener">Apn Property Group (APD AU)</a> made an <a href="https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02373507-3A566928?access_token=83ff96335c2d45a094df02a206a39ff4" target="_blank" rel="noopener">announcement</a> it had entered into a Scheme with <a href="https://www.smartkarma.com/entities/dexus" target="_blank" data-smartkarma-citation="entities:403:1" rel="noopener">Dexus Property (DXS AU)</a> at a price of A$0.915/share, a 50% premium to last close.
The Offer has the unanimous backing of APN directors. In addition, APN directors holding 33% of APN's outstanding shares intend to vote in favour of the Scheme.
APN Chairman Chris Aylward has separately granted Dexus a call option equal to 19.9% of APN's shares, exercisable in the event a competing proposal is announced.
The Scheme meeting is expected to be held mid-July with implementation potentially early August. 
Board support, a hefty premium to last close, and a decade-plus high - this is priced to complete and is trading accordingly.
More below the fold.

This morning real estate manager Apn Property Group (APD AU) made an announcement it had entered into a Scheme with Dexus Property (DXS AU) at a price of A$0.915/share, a 50% premium to last close.
The Offer has the unanimous backing of APN directors. In addition, APN directors holding 33% of APN's outstanding shares intend to vote in favour of the Scheme.
APN Chairman Chris Aylward has separately granted Dexus a call option equal to 19.9% of APN's shares, exercisable in the event a competing proposal is announced.
The Scheme meeting is expected to be held mid-July with implementation potentially early August. 
Board support, a hefty premium to last close, and a decade-plus high - this is priced to complete and is trading accordingly.
More below the fold.

Equity Capital Markets

Propertylink Group / Equity Capital Markets

Propertylink (PHL), an Australia-based real estate group, is looking to raise about A$500m. PHL is an internally managed real estate company that owns, manages and co-invests in industrial and logistics properties in Australia.In this insight, we compare the company with its peers, recently listed <a href="https://www.smartkarma.com/entities/22748" target="_blank" data-smartkarma-citation="entities:22748:1">Frasers Logistics &amp; Industrial (FLT SP)</a>  and with ASX listed IDR and TIX. We have some concerns about some of the company's directors background. Last but not the least we examine its valuation against its peers.  Please read this insight in conjunction with <a href="https://www.smartkarma.com/profiles/4" target="_blank" data-smartkarma-citation="accounts:4">Sumeet Singh</a>'s <a href="https://www.smartkarma.com/insights/frasers-logistics-ipo-reasonable-valuation-but-decade-low-cap-rates-remain-a-worry" target="_blank" data-smartkarma-citation="insights:4093">Frasers Logistics IPO - Reasonable Valuation but Decade Low Cap Rates Remain a Worry</a>.

Propertylink (PHL), an Australia-based real estate group, is looking to raise about A$500m. PHL is an internally managed real estate company that owns, manages and co-invests in industrial and logistics properties in Australia.In this insight, we compare the company with its peers, recently listed Frasers Logistics &amp; Industrial (FLT SP)  and with ASX listed IDR and TIX. We have some concerns about some of the company's directors background. Last but not the least we examine its valuation against its peers.  Please read this insight in conjunction with Sumeet Singh's Frasers Logistics IPO - Reasonable Valuation but Decade Low Cap Rates Remain a Worry.

Propertylink IPO: Decent Yield Comes with Quality Concerns

Australia

Dexus Industria REIT operates as a real estate investment trust. The Company invests in and owns interest in real estate properties throughout Australia, focusing on industrial, technology park, and business office assets.

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Dexus Industria REIT (DXI AU)

ASX Short Interest Weekly (Oct 4th): Ampol, Domino'S Pizza Enterprises, BHP, Fortescue

We analyzed ASX short interest report for the past week and highlight short interest changes in Ampol, Domino'S Pizza Enterprises, BHP, Fortescue.

Ke Yan, CFA, FRM

APN Prop (APD AU): Dexus' Done Deal

Board support, a hefty premium to last close, and a decade-plus high - this is priced to complete and is trading accordingly.

David Blennerhassett

Propertylink IPO: Decent Yield Comes with Quality Concerns

Propertylink (PHL), an Australia-based real estate group, is looking to raise about A$500m. PHL is an internally managed real estate company that...

Ke Yan, CFA, FRM

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52-week Range

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