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 Jul 11th (reported today). The aggregated short interest was USD25.3bn.</li>
<li>We tabulate league tables 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 Santos, Northern Star Resources, Technology One, Orora.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 11th (reported today). The aggregated short interest was USD25.3bn.
We tabulate league tables 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 Santos, Northern Star Resources, Technology One, Orora.


ASX Short Interest Weekly (Jul 11th): Santos, Northern Star Resources, Technology One, Orora

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>Extra Edition of the Broker Call Report</li></ul>

Aussie Broadband Pty Ltd - Australian Broker Call *Extra* Edition - Jul 02, 2025

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 18 December 2023, superannuation service provider <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> entered into a Scheme with Mitsubishi UFJ Financial Group.</li>
<li>MUFJ offered Link shareholders A$2.10/share (in cash) plus a A$0.16/share dividend (25% franked), or a 32.9% premium, all-in. </li>
<li>The Scheme Meeting will now take place on the 24th April, with expected implementation on the 16 May. This looks done - and trading accordingly. </li>
</ul>


Back on the 18 December 2023, superannuation service provider Link Administration (LNK AU) entered into a Scheme with Mitsubishi UFJ Financial Group.
MUFJ offered Link shareholders A$2.10/share (in cash) plus a A$0.16/share dividend (25% franked), or a 32.9% premium, all-in. 
The Scheme Meeting will now take place on the 24th April, with expected implementation on the 16 May. This looks done - and trading accordingly. 


Link Admin (LNK AU): 24th April Shareholder Vote

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>
<a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> has entered a SID with <a href="https://www.smartkarma.com/entities/mitsubishi-ufj-financial-group" target="_blank" data-smartkarma-citation="entities:218:1" rel="noopener">Mitsubishi UFJ Financial (MUFG) (8306 JP)</a> at A$2.26 (A$2.10 scheme consideration + A$0.16 dividend), a 32.9% premium to the undisturbed price.</li>
<li>The presence of several substantial shareholders, lack of irrevocables, a light offer, recent derisking of the business and a long-dated offer pose a challenge for the scheme to get up. </li>
<li>MUFG’s offer could spark a rival offer, but Link’s long-suffering shareholders have endured a history of failed bids. At the last close, the risk/reward is unfavourable.</li>
</ul>



Link Administration (LNK AU) has entered a SID with Mitsubishi UFJ Financial (MUFG) (8306 JP) at A$2.26 (A$2.10 scheme consideration + A$0.16 dividend), a 32.9% premium to the undisturbed price.
The presence of several substantial shareholders, lack of irrevocables, a light offer, recent derisking of the business and a long-dated offer pose a challenge for the scheme to get up. 
MUFG’s offer could spark a rival offer, but Link’s long-suffering shareholders have endured a history of failed bids. At the last close, the risk/reward is unfavourable.


Link Admin (LNK AU): MUFG’s Underwhelming Binding Offer

<ul>
<li>
<a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a>, the largest provider of services in Australia’s superannuation administration industry, has entered into a Scheme with Mitsubishi UFJ Financial Group.</li>
<li>MUFJ is offering long-suffering Link shareholders A$2.10/share (in cash) plus a A$0.16/share dividend (25% franked), or a 32.9% premium, all-in, to the undisturbed price. It has not been declared final. </li>
<li>The Offer has the board's backing. A Scheme Meeting is expected to be held in May with possible completion in June 2024. </li>
</ul>



Link Administration (LNK AU), the largest provider of services in Australia’s superannuation administration industry, has entered into a Scheme with Mitsubishi UFJ Financial Group.
MUFJ is offering long-suffering Link shareholders A$2.10/share (in cash) plus a A$0.16/share dividend (25% franked), or a 32.9% premium, all-in, to the undisturbed price. It has not been declared final. 
The Offer has the board's backing. A Scheme Meeting is expected to be held in May with possible completion in June 2024. 


Link Admin (LNK AU): Mitsubishi UFJ's Bittersweet Scheme

Australia

PEXA Group Limited operates the property exchange network. The Company provides a robust, resilient, and cloud-based platform that connects financial institutions, practitioner firms, the reserve bank of Australia, land titles, and state revenue offices to enable the digital lodgment and settlement of property transactions collaborate to prepare for settlements.

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

PEXA Group (PXA AU)

ASX Short Interest Weekly (Jul 11th): Santos, Northern Star Resources, Technology One, Orora

We analyzed ASX short interest report for the past week and highlight short interest changes in Santos, Northern Star Resources, Technology One,...

Ke Yan, CFA, FRM

Aussie Broadband Pty Ltd - Australian Broker Call Extra Edition - Jul 02, 2025

Extra Edition of the Broker Call Report

FNArena

Link Admin (LNK AU): 24th April Shareholder Vote

This is done. Trading super tight at a 1.3%/9.3% gross/annualised spread. If in, stay in. Otherwise, I'd probably be looking elsewhere.

David Blennerhassett

Link Admin (LNK AU): MUFG’s Underwhelming Binding Offer

The presence of several substantial shareholders, lack of irrevocables, a light offer, recent derisking of the business and a long-dated offer pose...

Arun George

Link Admin (LNK AU): Mitsubishi UFJ's Bittersweet Scheme

I think this is done. Trading tight at a 3.0%/5.6% gross/annalused sprad, assuming late June completion. It appears the market is holding out for a...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)