Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/qoria-ltd" target="_blank" data-smartkarma-citation="entities:30531:1" rel="noopener">Qoria (QOR AU)</a></strong> has <a href="https://announcements.asx.com.au/asxpdf/20260202/pdf/06vwfwn5h3qyc3.pdf" target="_blank" rel="noopener">announced</a> a scrip merger with unlisted Boston-based Aura, to form an enlarged digital safety play under the ASX-ticker AXQ. </li>
<li>Scrip terms  - 17.2 QOR shares per AXQ share - will result in QOR shareholders holding 35% of the enlarged entity on a fully diluted basis. </li>
<li>A merger makes sense. Both companies sell software to schools and parents offering "digital seatbelts". There may, however, be a question mark over the reliability of the indicative Offer price. </li>
</ul>



Qoria (QOR AU) has announced a scrip merger with unlisted Boston-based Aura, to form an enlarged digital safety play under the ASX-ticker AXQ. 
Scrip terms  - 17.2 QOR shares per AXQ share - will result in QOR shareholders holding 35% of the enlarged entity on a fully diluted basis. 
A merger makes sense. Both companies sell software to schools and parents offering "digital seatbelts". There may, however, be a question mark over the reliability of the indicative Offer price. 


Aura's Scrip Offer For Qoria (QOR AU) And Backdoor Listing

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Dec 5th (reported today). The aggregated short interest was USD28.4bn.</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 Aristocrat Leisure, ALS, JB Hi-Fi, WiseTech Global, Woolworths.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Dec 5th (reported today). The aggregated short interest was USD28.4bn.
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 Aristocrat Leisure, ALS, JB Hi-Fi, WiseTech Global, Woolworths.


ASX Short Interest Weekly (Dec 5th): Aristocrat Leisure, ALS, JB Hi-Fi, WiseTech Global, Woolworths

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/national-storage-reit" target="_blank" data-smartkarma-citation="entities:13762:1" rel="noopener">National Storage REIT (NSR AU)</a> has entered a SID with Brookfield and GIC at A$2.86 per unit, a 26.5% premium to the undisturbed price.</li>
<li>The scheme offer is conditional on shareholder and FIRB, NZ OIO and foreign competition (EU, Ukraine, Turkey, China, Korea) approvals.</li>
<li>Regulatory approvals should be forthcoming. The scheme vote is low risk as the offer represents an all-time high and implies a P/NTA of 1.11x. </li>
</ul>



National Storage REIT (NSR AU) has entered a SID with Brookfield and GIC at A$2.86 per unit, a 26.5% premium to the undisturbed price.
The scheme offer is conditional on shareholder and FIRB, NZ OIO and foreign competition (EU, Ukraine, Turkey, China, Korea) approvals.
Regulatory approvals should be forthcoming. The scheme vote is low risk as the offer represents an all-time high and implies a P/NTA of 1.11x. 


National Storage REIT (NSR AU): Brookfield and GIC’s Binding Proposal at A$2.86

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Nov 28th (reported today). The aggregated short interest was USD27.2bn.</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 Lynas Rare Earths, James Hardie Industries, Transurban, CAR, Macquarie.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 28th (reported today). The aggregated short interest was USD27.2bn.
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 Lynas Rare Earths, James Hardie Industries, Transurban, CAR, Macquarie.


ASX Short Interest Weekly (Nov 28th): Lynas Rare Earths, James Hardie Industries, Transurban, CAR

<ul>
<li>
<a href="https://www.smartkarma.com/entities/national-storage-reit" target="_blank" data-smartkarma-citation="entities:13762:1" rel="noopener">National Storage REIT (NSR AU)</a> has received a non-binding proposal from Brookfield and GIC at A$2.86 per unit, a 26.5% premium to the undisturbed price.</li>
<li>The Board has granted exclusive due diligence until 7 December. A scheme offer would be conditional on FIRB, NZ OIO and ACCC approval. </li>
<li>The offer is attractive as it represents an all-time high and implies a P/NTA of 1.11x. The short exclusivity period increases the odds of a binding proposal.</li>
</ul>



National Storage REIT (NSR AU) has received a non-binding proposal from Brookfield and GIC at A$2.86 per unit, a 26.5% premium to the undisturbed price.
The Board has granted exclusive due diligence until 7 December. A scheme offer would be conditional on FIRB, NZ OIO and ACCC approval. 
The offer is attractive as it represents an all-time high and implies a P/NTA of 1.11x. The short exclusivity period increases the odds of a binding proposal.


National Storage REIT (NSR AU): Brookfield and GIC’s Attractive NBIO at A$2.86

Australia

Pinnacle Investment Management Group Limited provides investment management services. The Company offers operational support, insurance, business management, compliance, financial reporting, and accounting services. Pinnacle Investment Management Group conducts its business in Australia.

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

Pinnacle Investment Management (PNI AU)

Aura's Scrip Offer For Qoria (QOR AU) And Backdoor Listing

Quirky, but ostensibly a fair deal. It's not clear how you're going to hedge this. If you like the terms, play the back-end and buy Qoria outright.

David Blennerhassett

ASX Short Interest Weekly (Dec 5th): Aristocrat Leisure, ALS, JB Hi-Fi, WiseTech Global, Woolworths

We analyzed ASX short interest report for the past week and highlight short interest changes in Aristocrat Leisure, ALS, JB Hi-Fi, WiseTech Global,...

Ke Yan, CFA, FRM

National Storage REIT (NSR AU): Brookfield and GIC’s Binding Proposal at A$2.86

Regulatory approvals should be forthcoming. The scheme vote is low risk. At the last close and for an end-of-April payment, the gross/annualised...

Arun George

ASX Short Interest Weekly (Nov 28th): Lynas Rare Earths, James Hardie Industries, Transurban, CAR

We analyzed ASX short interest report for the past week and highlight short interest changes in Lynas Rare Earths, James Hardie Industries,...

Ke Yan, CFA, FRM

National Storage REIT (NSR AU): Brookfield and GIC’s Attractive NBIO at A$2.86

The offer is attractive as it represents an all-time high and implies a P/NTA of 1.11x. The short exclusivity period increases the odds of a...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)