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

<ul>
<li>Nearing the end of the review period, there could be 36 adds/deletes across the S&amp;P/ASX family of indices in March.</li>
<li>Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200</a> and S&amp;P/ASX 300.</li>
<li>Completion of the merger with Chemist Warehouse in February will set off huge passive buying in <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> over the February to June period.</li>
</ul>


Nearing the end of the review period, there could be 36 adds/deletes across the S&amp;P/ASX family of indices in March.
Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&amp;P/ASX 200 and S&amp;P/ASX 300.
Completion of the merger with Chemist Warehouse in February will set off huge passive buying in Sigma Healthcare (SIG AU) over the February to June period.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.</li>
<li>We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.</li>
<li>
<a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> is likely to experience major index inflows in March 2025 if the merger completes as planned.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2025 index rebal event.
We expect two changes for ASX 50, one change for ASX 100, and seven changes for ASX 200. Separately we see 10 ADDs and 8 DELs for ASX 300.

Sigma Healthcare (SIG AU) is likely to experience major index inflows in March 2025 if the merger completes as planned.


Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

DigiCo Infrastructure REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/digico-reit" target="_blank" data-smartkarma-citation="entities:44091:1" rel="noopener">DigiCo REIT (DIGICO AU)</a> raised around US$1.3bn in its Australian IPO.</li>
<li>DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



DigiCo REIT (DIGICO AU) raised around US$1.3bn in its Australian IPO.
DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the trading dynamics.


DigiCo Infrastructure REIT IPO Trading - Now for the Real Test, Ex-Adjustments

<ul>
<li>CIC is looking to raise around US$1.2bn, via selling around 2.6% of its stake in <a href="https://www.smartkarma.com/entities/goodman-group" target="_blank" data-smartkarma-citation="entities:959:1" rel="noopener">Goodman Group (GMG AU)</a> , via a block trade.</li>
<li>Goodman’s shares have performed exceptionally well over the past year, driven by its pivot towards data centers.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


CIC is looking to raise around US$1.2bn, via selling around 2.6% of its stake in Goodman Group (GMG AU) , via a block trade.
Goodman’s shares have performed exceptionally well over the past year, driven by its pivot towards data centers.
In this note, we will talk about the placement and run the deal through our ECM framework.


Goodman Group Placement - Large Shareholder Looking to Raise US$1.2bn but Discount Is Tight

<ul>
<li>
<a href="https://www.smartkarma.com/entities/digico-reit" target="_blank" data-smartkarma-citation="entities:44091:1" rel="noopener">DigiCo REIT (DIGICO AU)</a> is looking to raise around US$1.3bn in its Australian IPO.</li>
<li>DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



DigiCo REIT (DIGICO AU) is looking to raise around US$1.3bn in its Australian IPO.
DigiCo REIT (DREIT) aims to be a diversified owner, operator and developer of data centres, with a global portfolio and broad investment mandate across stabilised, value-add and development opportunities
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


DigiCo Infrastructure REIT IPO - Looks Decent - After All the Adjustments

Australia

Macquarie Telecom Group Limited is an Australian telecommunications service provider.  The Group provides local and long distance, calling card and inbound calling services along with the management of telecommunications facilities. The Group also provides data services such as ATM, ISDN and digital leased line along with telecommunications advisory services.

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Macquarie Telecom (MAQ AU)

S&P/ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger

There could be 36 changes for the ASX indices in March. There is big flow and impact. The Sigma merger with CWG will result in over A$2bn of...

Brian Freitas

Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

We expect there to be a total of 650mn shares to buy from the ASX family during the March 2025 index rebal event. This is roughly US$1.1bn in flow...

Janaghan Jeyakumar, CFA

DigiCo Infrastructure REIT IPO Trading - Now for the Real Test, Ex-Adjustments

DigiCo REIT (DIGICO AU) raised around US$1.3bn in its Australian IPO. We have looked at the company's past performance earlier, in this note we...

Sumeet Singh

Goodman Group Placement - Large Shareholder Looking to Raise US$1.2bn but Discount Is Tight

CIC is looking to raise around US$1.2bn, via selling around 2.6% of its stake in Goodman Group (GMG AU) , via a block trade. In this note, we run...

Sumeet Singh

DigiCo Infrastructure REIT IPO - Looks Decent - After All the Adjustments

DigiCo REIT (DIGICO AU) is looking to raise around US$1.3bn in its Australian IPO. In this note, we look at the company's valuations.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​​​​ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger

There could be 36 changes for the ASX indices in March. There is big flow and impact. The Sigma merger with CWG will result in over A$2bn of...

Brian Freitas

Quiddity Leaderboard ASX Mar 25: Several Changes Likely; Major Inflows for Sigma Healthcare

We expect there to be a total of 650mn shares to buy from the ASX family during the March 2025 index rebal event. This is roughly US$1.1bn in flow...

Janaghan Jeyakumar, CFA

DigiCo Infrastructure REIT IPO Trading - Now for the Real Test, Ex-Adjustments

DigiCo REIT (DIGICO AU) raised around US$1.3bn in its Australian IPO. We have looked at the company's past performance earlier, in this note we...

Sumeet Singh

Goodman Group Placement - Large Shareholder Looking to Raise US$1.2bn but Discount Is Tight

CIC is looking to raise around US$1.2bn, via selling around 2.6% of its stake in Goodman Group (GMG AU) , via a block trade. In this note, we run...

Sumeet Singh

DigiCo Infrastructure REIT IPO - Looks Decent - After All the Adjustments

DigiCo REIT (DIGICO AU) is looking to raise around US$1.3bn in its Australian IPO. In this note, we look at the company's valuations.

Sumeet Singh

S&P/ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger