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 7th (reported today) which has an aggregated short interest worth USD16.9bn.</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 CBA, BHP, Westpac, Wesfarmers, CSL, South32, Fortescue, IGO, OZ Minerals, Washington  H. SO. </li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 7th (reported today) which has an aggregated short interest worth USD16.9bn.
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 CBA, BHP, Westpac, Wesfarmers, CSL, South32, Fortescue, IGO, OZ Minerals, Washington  H. SO. 


ASX Short Interest Weekly (Oct 7th): CBA, BHP, Westpac, Wesfarmers, CSL

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sichuan-tianqi-lithium-industries-inc-f26986a6-bedd-49d2-a5bd-b3dabf59ae32" target="_blank" data-smartkarma-citation="entities:27789:1" rel="noopener">Sichuan Tianqi Lithium Industries, Inc. (TIANQI HK)</a> is pre-marketing an H Share listing to raise US$1.0-1.5 billion. It was listed on the Shenzhen Stock Exchange in 2010. </li>
<li>The H Share proceeds will be used to repay the outstanding <a href="https://www.smartkarma.com/entities/quimica-y-minera-chil-sp-adr" target="_blank" data-smartkarma-citation="entities:27977:1" rel="noopener">Quimica Y Minera Chil-Sp Adr (SQM US)</a> related debt, fund construction costs and working capital</li>
<li>The fundamentals are strong as <a href="https://www.smartkarma.com/entities/sichuan-tianqi-lithium-industries-inc" target="_blank" data-smartkarma-citation="entities:5698:1" rel="noopener">Sichuan Tianqi Lithium Industries, Inc (002466 CH)</a> is well-placed to leverage the high lithium prices to deliver growth, margin and cash generation.</li>
</ul>



Sichuan Tianqi Lithium Industries, Inc. (TIANQI HK) is pre-marketing an H Share listing to raise US$1.0-1.5 billion. It was listed on the Shenzhen Stock Exchange in 2010. 
The H Share proceeds will be used to repay the outstanding Quimica Y Minera Chil-Sp Adr (SQM US) related debt, fund construction costs and working capital
The fundamentals are strong as Sichuan Tianqi Lithium Industries, Inc (002466 CH) is well-placed to leverage the high lithium prices to deliver growth, margin and cash generation.


Tianqi Lithium H Share Listing: Riding the Wave

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>For the month of May, 10 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$26bn.</li>
<li>The average premium for the new deals announced (or first discussed) in May was ~53%.</li>
<li>This compares to the average premium for all deals in 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 33%, 31%, and 31.5% respectively.</li>
</ul>


For the month of May, 10 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$26bn.
The average premium for the new deals announced (or first discussed) in May was ~53%.
This compares to the average premium for all deals in 2021 (165 deals), 2020 (158 deals), and 2019 (145 deals) of 33%, 31%, and 31.5% respectively.


<ul>
<li>The downside to <a href="https://www.smartkarma.com/entities/woodside-petroleum-ltd" target="_blank" data-smartkarma-citation="entities:177:1" rel="noopener">Woodside Petroleum (WPL AU)</a> remains, but the reasoned downside is smaller than it was before.</li>
<li>CVC walks, but it doesn't stop <a href="https://www.smartkarma.com/entities/brambles-ltd" target="_blank" data-smartkarma-citation="entities:693:1" rel="noopener">Brambles Ltd (BXB AU)</a> privatisation speculation. </li>
<li>If <a href="https://www.smartkarma.com/entities/tabcorp-holdings-ltd" target="_blank" data-smartkarma-citation="entities:6837:1" rel="noopener">Tabcorp</a> and <a href="https://www.smartkarma.com/entities/the-lottery-corporation-limited" target="_blank" data-smartkarma-citation="entities:35970:1" rel="noopener">The Lottery Corp</a> are seen as low volatility growth properties, then the stability of cashflow puts it into rarified air among "growth bias" which has gotten trashed. </li>
</ul>


The downside to Woodside Petroleum (WPL AU) remains, but the reasoned downside is smaller than it was before.
CVC walks, but it doesn't stop Brambles Ltd (BXB AU) privatisation speculation. 
If Tabcorp and The Lottery Corp are seen as low volatility growth properties, then the stability of cashflow puts it into rarified air among "growth bias" which has gotten trashed. 


Last Week In Event SPACE: Woodside Petroleum, Brambles, Tabcorp, HKBN, Japan

<ul>
<li>There are 41 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.</li>
<li>Three news deals this week: <a href="https://www.smartkarma.com/entities/kintetsu-world-express-inc" target="_blank" data-smartkarma-citation="entities:11710:1" rel="noopener">Kintetsu World Express (9375 JP)</a>'s Tender Offer, Woolies tilt for <a href="https://www.smartkarma.com/entities/mydeal-com-au-ltd" target="_blank" data-smartkarma-citation="entities:30939:1" rel="noopener">MyDeal.com (MYD AU)</a><a href="https://www.smartkarma.com/entities/mydeal-com-au-ltd" target="_blank" data-smartkarma-citation="entities:30939:1" rel="noopener"></a>, <a href="https://www.smartkarma.com/entities/hwa-hong-corp-ltd" target="_blank" data-smartkarma-citation="entities:6648:1" rel="noopener">Hwa Hong (HWAH SP)</a>'s MBO, &amp; KKR's bid for <a href="https://www.smartkarma.com/entities/kito-corporation" target="_blank" data-smartkarma-citation="entities:19512:1" rel="noopener">Kito (6409 JP)</a>
</li>
<li>Key updates took place for: <a href="https://www.smartkarma.com/entities/virtus-health-ltd" target="_blank" data-smartkarma-citation="entities:14776:1" rel="noopener">Virtus Health (VRT AU)</a> &amp;<a href="https://www.smartkarma.com/entities/irongate-group" target="_blank" data-smartkarma-citation="entities:30897:1" rel="noopener">Irongate Group (IAP AU)</a> 
</li>
</ul>


There are 41 - mostly firm - transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Three news deals this week: Kintetsu World Express (9375 JP)'s Tender Offer, Woolies tilt for MyDeal.com (MYD AU), Hwa Hong (HWAH SP)'s MBO, &amp; KKR's bid for Kito (6409 JP)

Key updates took place for: Virtus Health (VRT AU) &amp;Irongate Group (IAP AU) 



Asia-Pac Weekly Risk Arb Wrap: Kinetsu World, Hwa Hong, MyDeal, Kito, Virtus Health, Irongate, HKBN

Australia

IGO Limited operates as an exploration company. The Company explores and mines copper, ore, nickel, gold, and other mineral resources. IGO serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
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IGO Ltd (IGO AU)

ASX Short Interest Weekly (Oct 7th): CBA, BHP, Westpac, Wesfarmers, CSL

We analyzed ASX short interest report for the past week and highlight short interest changes in CBA, BHP, Westpac, Wesfarmers, CSL, South32,...

Ke Yan, CFA, FRM

(Mostly) Asia M&A: May 2022 Roundup

For the month of May, 10 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$26bn. The average...

David Blennerhassett

Last Week In Event SPACE: Woodside Petroleum, Brambles, Tabcorp, HKBN, Japan

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Asia-Pac Weekly Risk Arb Wrap: Kinetsu World, Hwa Hong, MyDeal, Kito, Virtus Health, Irongate, HKBN

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Oct 7th): CBA, BHP, Westpac, Wesfarmers, CSL

We analyzed ASX short interest report for the past week and highlight short interest changes in CBA, BHP, Westpac, Wesfarmers, CSL, South32,...

Ke Yan, CFA, FRM

Tianqi Lithium H Share Listing: Riding the Wave

Tianqi is pre-marketing an H Share listing to raise US$1.0-1.5 bn. The fundamentals are strong as it is well-placed to leverage the high lithium...

Arun George

(Mostly) Asia M&A: May 2022 Roundup

For the month of May, 10 new deals (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$26bn. The average...

David Blennerhassett

Last Week In Event SPACE: Woodside Petroleum, Brambles, Tabcorp, HKBN, Japan

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

Asia-Pac Weekly Risk Arb Wrap: Kinetsu World, Hwa Hong, MyDeal, Kito, Virtus Health, Irongate, HKBN

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett