A/H Premium Tracker (To 21 Mar 2025): AH Premia Still Falling; Expect Curve Torsion or AH Widening
AH Premia continue to fall on average, but the outperformance is slowing, and the better buying in some sectors (banks) appears to be technically...
522 Views
JX Advanced Metals (5016 JP) IPO: Trading Debut
Since the price range was announced, the peers have modestly re-rated. My SoTP valuation of JPY859 is slightly above the IPO price, suggesting the...
615 Views
A/H Premium Tracker (To 14 Mar 2025): AH Premia Still Falling; Expect Curve Torsion or AH Widening
AH Premia still falling at a slower pace. Hs outperform As despite HK underperforming A-share blue chips. Lots of AH premia <20%. Vol dropping...
437 Views
JX Advanced Metals (5016 JP) IPO: Price Range Is Fair
My SoTP valuation of JPY860 is modestly above the IPO price range of JPY810-820, suggesting that the price range is fair.
662 Views
JX Advanced Metals (5016 JP) IPO: Valuation Insights
In this note, we discuss valuation. My analysis suggests that JXAM is attractively valued at the IPO price compared to peer multiples.
498 Views