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

Event-Driven

<ul>
<li>There could be an addition to the S&amp;P/ASX 100 Index and <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 (AS51 INDEX)</a> in April following <a href="https://www.smartkarma.com/entities/oz-minerals-ltd" target="_blank" data-smartkarma-citation="entities:1138:1" rel="noopener">OZ Minerals Ltd (OZL AU)</a>'s acquisition by <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group Ltd (BHP AU)</a>.</li>
<li>Then there could be another change for 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 (AS51 INDEX)</a> at the regular rebalance in June.</li>
<li>Passive trackers will need to trade between 4.5-18 days of ADV on the potential adds/ deletes. Short interest has started to increase on a couple of stocks.</li>
</ul>


There could be an addition to the S&amp;P/ASX 100 Index and S&amp;P/ASX 200 (AS51 INDEX) in April following OZ Minerals Ltd (OZL AU)'s acquisition by BHP Group Ltd (BHP AU).
Then there could be another change for the S&amp;P/ASX 200 (AS51 INDEX) at the regular rebalance in June.
Passive trackers will need to trade between 4.5-18 days of ADV on the potential adds/ deletes. Short interest has started to increase on a couple of stocks.


S&P/​​​​​​ASX Index Rebalance Preview: Changes from Now to June

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 3rd (reported today) which has an aggregated short interest worth USD41.5bn.</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 Woodside Energy, Medibank Private, Arafura Rare Ear, New Hope, Pilbara Minerals, Northern Star Re, Fortescue Metals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 3rd (reported today) which has an aggregated short interest worth USD41.5bn.
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 Woodside Energy, Medibank Private, Arafura Rare Ear, New Hope, Pilbara Minerals, Northern Star Re, Fortescue Metals.


ASX Short Interest Weekly (Mar 3rd): Woodside Energy, Medibank Private, Arafura Rare Ear, New Hope

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Feb 24th (reported today) which has an aggregated short interest worth USD42.5bn.</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 Pilbara Minerals, Nine Entertainment, ANZ, Reliance.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Feb 24th (reported today) which has an aggregated short interest worth USD42.5bn.
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 Pilbara Minerals, Nine Entertainment, ANZ, Reliance.


ASX Short Interest Weekly (Feb 24th): Pilbara Minerals, Nine Entertainment, ANZ, Reliance

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Feb 17th (reported today) which has an aggregated short interest worth USD14.9bn.</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 Suncorp, Corporate Travel, Incitec Pivot, Bhp, Endeavour.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Feb 17th (reported today) which has an aggregated short interest worth USD14.9bn.
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 Suncorp, Corporate Travel, Incitec Pivot, Bhp, Endeavour.


ASX Short Interest Weekly (Feb 17th): Suncorp, Corporate Travel, Incitec Pivot, BHP, Endeavour

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.

<ul>
<li>Potentia has returned with an improved three-part offer for <a href="https://www.smartkarma.com/entities/nitro-software-ltd" target="_blank" data-smartkarma-citation="entities:30943:1" rel="noopener">Nitro Software Ltd (NTO AU)</a>. The base offer of A$2.17 is 0.9% higher than Alludo’s A$2.15 offer. </li>
<li>The offer could rise to A$2.20 or A$2.25 per share based on hitting additional conditions. There is a clear path for the final offer to reach A$2.20 per share. </li>
<li>A A$2.25 per share offer is unlikely due to the onerous 25% scrip acceptance condition. At the last close, the gross spread to the likely final A$2.20 offer is 0.5%.</li>
</ul>


Potentia has returned with an improved three-part offer for Nitro Software Ltd (NTO AU). The base offer of A$2.17 is 0.9% higher than Alludo’s A$2.15 offer. 
The offer could rise to A$2.20 or A$2.25 per share based on hitting additional conditions. There is a clear path for the final offer to reach A$2.20 per share. 
A A$2.25 per share offer is unlikely due to the onerous 25% scrip acceptance condition. At the last close, the gross spread to the likely final A$2.20 offer is 0.5%.


Nitro (NTO AU): Potentia Comes Good with a Three-Part Offer

Australia

Megaport Limited operates as a software-based elastic connectivity provider. The Company develops an elastic connectivity platform that provides customers interconnectivity and flexibility between other networks and cloud providers connected to the platform. Megaport serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Megaport Ltd (MP1 AU)

S&P/ASX Index Rebalance Preview: Changes from Now to June

There could be one change for the ASX100 & ASX200 in April and one change for the ASX200 in June. Passive trackers will trade between 4.5-18x ADV...

Brian Freitas

ASX Short Interest Weekly (Mar 3rd): Woodside Energy, Medibank Private, Arafura Rare Ear, New Hope

We analyzed ASX short interest report for the past week and highlight short interest changes in Woodside Energy, Medibank Private, Arafura Rare...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Feb 24th): Pilbara Minerals, Nine Entertainment, ANZ, Reliance

We analyzed ASX short interest report for the past week and highlight short interest changes in Pilbara Minerals, Nine Entertainment, ANZ, Reliance...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Feb 17th): Suncorp, Corporate Travel, Incitec Pivot, BHP, Endeavour

We analyzed ASX short interest report for the past week and highlight short interest changes in Suncorp, Corporate Travel, Incitec Pivot, Bhp,...

Ke Yan, CFA, FRM

Nitro (NTO AU): Potentia Comes Good with a Three-Part Offer

The base offer of A$2.17 could rise to A$2.20 or A$2.25 per share based on hitting additional conditions. There is a clear path for the final offer...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​ASX Index Rebalance Preview: Changes from Now to June

There could be one change for the ASX100 & ASX200 in April and one change for the ASX200 in June. Passive trackers will trade between 4.5-18x ADV...

Brian Freitas

ASX Short Interest Weekly (Mar 3rd): Woodside Energy, Medibank Private, Arafura Rare Ear, New Hope

We analyzed ASX short interest report for the past week and highlight short interest changes in Woodside Energy, Medibank Private, Arafura Rare...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Feb 24th): Pilbara Minerals, Nine Entertainment, ANZ, Reliance

We analyzed ASX short interest report for the past week and highlight short interest changes in Pilbara Minerals, Nine Entertainment, ANZ, Reliance...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Feb 17th): Suncorp, Corporate Travel, Incitec Pivot, BHP, Endeavour

We analyzed ASX short interest report for the past week and highlight short interest changes in Suncorp, Corporate Travel, Incitec Pivot, Bhp,...

Ke Yan, CFA, FRM

Nitro (NTO AU): Potentia Comes Good with a Three-Part Offer

The base offer of A$2.17 could rise to A$2.20 or A$2.25 per share based on hitting additional conditions. There is a clear path for the final offer...

Arun George

S&P/ASX Index Rebalance Preview: Changes from Now to June