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.

Equity Capital Markets

Axbio International / Equity Capital Markets

<ul>
<li>Axbio, a China-based technology company, is looking to raise at least USD 100 million via a Hong Kong listing. CICC and SPDB are the joint sponsors.</li>
<li>In this note, we took a quick look at the core products and key products, as well as its management team.</li>
<li>Although there are interesting takes from the prospectus, we are not convinced on the prospect of the deal yet.</li>
</ul>


Axbio, a China-based technology company, is looking to raise at least USD 100 million via a Hong Kong listing. CICC and SPDB are the joint sponsors.
In this note, we took a quick look at the core products and key products, as well as its management team.
Although there are interesting takes from the prospectus, we are not convinced on the prospect of the deal yet.


Axbio (安序源) Pre-IPO: First Take of the Deal

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

Coca-Cola Europacific Partners / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/coca-cola-europacific-partners-plc" target="_blank" data-smartkarma-citation="entities:44040:1" rel="noopener">Coca-Cola Europacific Partners (CCEP LN)</a> was transferred on 15 November 2024, to the index's eligible FCA listing category under the new regime.</li>
<li>The security needs to pass the liquidity test in both January and February 2025 to be assigned a UK nationality and become eligible for the March 2025 review.</li>
<li>The security has already passed the liquidity threshold by ~20% in November and December thus it has a solid probability of being added to F100 at the March 2025 review.</li>
</ul>



Coca-Cola Europacific Partners (CCEP LN) was transferred on 15 November 2024, to the index's eligible FCA listing category under the new regime.
The security needs to pass the liquidity test in both January and February 2025 to be assigned a UK nationality and become eligible for the March 2025 review.
The security has already passed the liquidity threshold by ~20% in November and December thus it has a solid probability of being added to F100 at the March 2025 review.


Coca-Cola Europacific Partners (CCEP LN): Halfway In F100

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/profiles/janaghan-jeyakumar-cfa" target="_blank" data-smartkarma-citation="accounts:3173" rel="noopener">Janaghan Jeyakumar, CFA</a> had predicted a series of changes in UK100 (a.k.a. F100) and UK250 (aka F250) and all predicted changes came to pass. F250 saw one extra change.</li>
<li>There will be one more ad hoc announcement today. We think the replacement for <a href="https://www.smartkarma.com/entities/tritax-eurobox-plc-3e9443bd-b52d-4565-9083-99325aa64446" target="_blank" data-smartkarma-citation="entities:44137:1" rel="noopener">Tritax Eurobox (EBOX LN)</a> will be <a href="https://www.smartkarma.com/entities/mobico-group-plc" target="_blank" data-smartkarma-citation="entities:22059:1" rel="noopener">Mobico Group (MCG LN)</a>. </li>
<li>There were two ADDs in F250 which are VERY much worth looking at. Janaghan had addressed these in prior weeks as well. Those two names really stand out.</li>
</ul>



Janaghan Jeyakumar, CFA had predicted a series of changes in UK100 (a.k.a. F100) and UK250 (aka F250) and all predicted changes came to pass. F250 saw one extra change.
There will be one more ad hoc announcement today. We think the replacement for Tritax Eurobox (EBOX LN) will be Mobico Group (MCG LN). 
There were two ADDs in F250 which are VERY much worth looking at. Janaghan had addressed these in prior weeks as well. Those two names really stand out.


UK100 and UK250 Index Rebals: Some Interesting Trades

<ul>
<li>
<a href="https://www.smartkarma.com/entities/deliveroo-plc" target="_blank" data-smartkarma-citation="entities:27468:1" rel="noopener">Deliveroo (ROO LN)</a> and <a href="https://www.smartkarma.com/entities/oxford-nanopore-technologies-plc" target="_blank" data-smartkarma-citation="entities:34444:1" rel="noopener">Oxford Nanopore Technologies (ONT LN)</a> are newly eligible securities forecasted to be added to F250 due to the recent change of the FCA listing category framework.</li>
<li>
<a href="https://www.smartkarma.com/entities/ferrexpo-plc" target="_blank" data-smartkarma-citation="entities:24163:1" rel="noopener">Ferrexpo Plc (FXPO LN)</a> is the new forecasted addition-migration to F250 following its ~25% price jump over the last two days which made it surpass the entry threshold.</li>
<li>Applied Nutrition Plc (APN LN) is a newly eligible, forecasted to be added to small-cap following its IPO listing on 24 October 2024.</li>
</ul>



Deliveroo (ROO LN) and Oxford Nanopore Technologies (ONT LN) are newly eligible securities forecasted to be added to F250 due to the recent change of the FCA listing category framework.

Ferrexpo Plc (FXPO LN) is the new forecasted addition-migration to F250 following its ~25% price jump over the last two days which made it surpass the entry threshold.
Applied Nutrition Plc (APN LN) is a newly eligible, forecasted to be added to small-cap following its IPO listing on 24 October 2024.


FOOTSIE UK December 2024 Forecast (Final): ALW and STJ for Top 100; ROO and ONT for Next 250

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

<ul>
<li>In this insight, we take a look at the potential index changes for F100 and F250 in the run-up to the December 2024 index rebal event.</li>
<li>The final rankings will be decided based on the full market cap at the close of trading today (3rd December 2024).</li>
<li>Based on the current numbers, we see three for the F100 index and three or more other changes for the F250 index in December 2024.</li>
</ul>


In this insight, we take a look at the potential index changes for F100 and F250 in the run-up to the December 2024 index rebal event.
The final rankings will be decided based on the full market cap at the close of trading today (3rd December 2024).
Based on the current numbers, we see three for the F100 index and three or more other changes for the F250 index in December 2024.


Quiddity Leaderboard F100/F250 Dec 24: Final Trading Day; Announcement Tomorrow!

United Kingdom

Oxford Nanopore Technologies Plc is a UK-based biotechnology company that develops and sells nanopore sequencing products for the direct, electronic analysis of single molecules. Its technology provides real-time DNA/RNA sequencing, offering scalable solutions from portable devices like the MinION to high-throughput systems such as the PromethION. The company was founded in 2005 as a spin-out from the University of Oxford and is headquartered in Oxford, U.K.

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Oxford Nanopore Technologies (ONT LN)

Axbio (安序源) Pre-IPO: First Take of the Deal

China's Axbio plans to raise $100 million in Hong Kong listing with CICC and SPDB as joint sponsors, but doubts remain on deal prospects after...

Ke Yan, CFA, FRM

Coca-Cola Europacific Partners (CCEP LN): Halfway In F100

CCEP LN recently transferred to the index's eligible FCA listing category and will be added to F100 in March 2025 if it passes the liquidity test.

Dimitris Ioannidis

UK100 and UK250 Index Rebals: Some Interesting Trades

The Footsie 100/250 rebalance was announced yesterday. Excellent hit rate by the team. As expected, two names are kind of special and they deserve...

Travis Lundy

FOOTSIE UK December 2024 Forecast (Final): ALW and STJ for Top 100; ROO and ONT for Next 250

Deliveroo and Oxford Nanopore set to join footsie 250 due to a change in the FCA listing category under the new framework. Ferrexpo Plc is a new...

Dimitris Ioannidis

Quiddity Leaderboard F100/F250 Dec 24: Final Trading Day; Announcement Tomorrow!

There are multiple names close to the border and depending on how prices move today, these names can get involved in index changes or miss out on...

Janaghan Jeyakumar, CFA

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52-week Range

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Axbio (安序源) Pre-IPO: First Take of the Deal

​China's Axbio plans to raise $100 million in Hong Kong listing with CICC and SPDB as joint sponsors, but doubts remain on deal prospects after...

Ke Yan, CFA, FRM

Coca-Cola Europacific Partners (CCEP LN): Halfway In F100

CCEP LN recently transferred to the index's eligible FCA listing category and will be added to F100 in March 2025 if it passes the liquidity test.

Dimitris Ioannidis

UK100 and UK250 Index Rebals: Some Interesting Trades

The Footsie 100/250 rebalance was announced yesterday. Excellent hit rate by the team. As expected, two names are kind of special and they deserve...

Travis Lundy

FOOTSIE UK December 2024 Forecast (Final): ALW and STJ for Top 100; ROO and ONT for Next 250

​Deliveroo and Oxford Nanopore set to join footsie 250 due to a change in the FCA listing category under the new framework. Ferrexpo Plc is a new...

Dimitris Ioannidis

Quiddity Leaderboard F100/F250 Dec 24: Final Trading Day; Announcement Tomorrow!

There are multiple names close to the border and depending on how prices move today, these names can get involved in index changes or miss out on...

Janaghan Jeyakumar, CFA

China's Axbio plans to raise $100 million in Hong Kong listing with CICC and SPDB as joint sponsors, but doubts remain on deal prospects after...

Deliveroo and Oxford Nanopore set to join footsie 250 due to a change in the FCA listing category under the new framework. Ferrexpo Plc is a new...